Newsletter – November 14, 2023

AIR FREIGHT UPDATES

Airfreight rates creep steadily upwards says pricing index 

aircargoeye.com
THE August to September uptick on airfreight rates on major Asia-outbound lanes is gradually continuing, pricing analysts say.
Nevertheless, there was little change in the first week of November, according to the latest data from air cargo pricing monitor TAC Index, writes Thelma Etim. Read more here.

OCEAN FREIGHT UPDATES

DP World hack: port operator gradually restarting operations around Australia after cyber-attack

theguardian.com
Australia’s biggest ports operator, which has been the target of a cyber-attack, has begun gradually restarting its operations, but key exports could be subject to prolonged delays.
DP World Australia closed its Sydney, Melbourne, Brisbane and Fremantle port operations after detecting the breach on Friday, leaving cargo and containers stuck on the docks. Read more here.

MSC joins new Asia-Europe GRI bid as contract talks loom

theloadstar.com
MSC has joined rivals CMA CGM and Hapag-Lloyd in announcing a substantial FAK (freight all kinds) general rate increase (GRI) from Asia to North Europe for 1 December.
It remains to be seen whether MSC’s 2M Alliance partner, Maersk, will throw its weight behind the FAK hikes with its own increase. Read more here.

It’s time to bunker down on AI

splash247.com
Marine bunkering – the act of refuelling large ships in either port or at sea – is one of the fundamental anchors of the maritime world. Already valued at $150.7bn globally, the bunker fuel market is projected to exceed $216bn in the next five years.
But despite perennial demand, fuelling maritime vessels across the globe is contingent on the whims of world events that routinely create volatility in the industry – new and complex regulations, supply chain disruptions, fraud issues, and fuel price fluctuations, among others. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Industry says banning replacement workers will prolong strikes — unions say reverse

bnnbloomberg.ca
Industry leaders are warning that a bill to ban replacement workers during a strike or lockout could lead to greater disruptions in sectors ranging from aviation to package delivery and internet services — a notion unions reject outright.
Tabled in Parliament on Thursday, the Liberals’ legislation would be applicable to federally regulated industries such as air travel, ports, banking and telecommunications and fine companies $100,000 a day for each violation. It would affect roughly a million employees — including at most Crown corporations — about 34 per cent of whom are unionized. Read more here.