Newsletter – May 28, 2020
AIR FREIGHT UPDATES
Philippine Airlines Gets $296M Cash Injectionsimpleflying.comPhilippine Airlines (PAL) has secured a $296m cash injection from its owner and chief executive, Lucio Tan. The news comes as the airline racks up losses in the billions and considers deep cuts due to the coronavirus. Read more here.
Air Canada Plans Five Additional Cargo-Only Routessimpleflying.comAir Canada has announced that it is planning on starting five additional cargo-only flights from June 1st. The new routes, subject to government approval, will expand the airline’s cargo-only flight schedule out of Montreal. Read more here.
OCEAN FREIGHT UPDATES
DP World joins blockchain platform TradeLenssplash247.comDP World has announced that it has completed the early stages of integrastion with TradeLens, a blockchain-based container logistics platform, jointly developed by Maersk and IBM. Read more here.
New York terminal operator sues Maersk for ‘tens of millions’freigthwaves.comContainer carriers and terminal operators could increasingly come to blows as COVID-19 rewrites the global business equation. A now-escalating court battle in New York could be a taste of things to come.In one corner: Maersk Line and Hamburg Sud, owned by AP Moller-Maersk (APM), the largest container carrier operator in the world, with group revenues of $39 billion in 2019. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Tumultuous times for transportation industry insurersfreightwaves.comThe TT does not stand for troubled times, although the TT Club has seen plenty.The TT stands for Through Transport, referring to the insurer’s customers in shipping, freight forwarding and logistics. The TT Club says it insures 80% of all maritime containers and has an insurable interest in more than 45% of the world’s top 100 ports. Read more here.
Could this be the proverbial nail in malls’ coffin?freightwaves.comIn Episode 30, Andrew and Kevin reunite with an original host and creator of the show’s name, Seth Holm, to discuss the future of malls, brick-and-mortar and retail overall. Seth spent nearly 10 years covering consumer and retail stocks at an Atlanta-based hedge fund before joining the Freight Intel Group last April. Read more here.