Newsletter – November 15, 2023

AIR FREIGHT UPDATES

Iceland’s rumbling volcano could affect Canadian flights, commerce
theweathernetwork.com
If the past is any indication, a volcano rumbling in Iceland this weekend could have international consequences if it erupts.
Officials are concerned that a volcanic eruption is imminent in southwestern Iceland after a vast pool of magma just beneath the surface has triggered thousands of earthquakes and heaved the ground throughout the region. Read more here.

Potential for European disruption if Icelandic volcano erupts
aircargoweek.com
As seismic activity and other signs continue to point to an increasing risk for a volcanic eruption in Iceland near Grindavík, AccuWeather meteorologists say that there is the potential for impacts to aviation over the coming weeks. Read more here.

Air cargo faces up to “huge issue” of greenwashing
aircargonews.net
The air cargo sector is facing the huge issue of greenwashing as companies struggle to prove that their environmental initiatives are making a difference.
On a panel discussion at this week’s Tiaca executive summit, speakers said that companies were being accused of greenwashing even when they were doing their best to reduce the environmental impact of their operations. Read more here.

Busy Mexico escapes as US integrators look to cull air operations
theloadstar.com
UPS and FedEx are shedding pilots as their airborne operations shrink, but growth in Mexico has seen them step up capacity there.
The downturn in parcel volumes moved by air prompted the integrators to accelerate the retirement of older aircraft and shed pilots. Indeed, reporting Q3 numbers, UPS reported its average daily airborne volume in the period had dropped 15.8% from 12 months prior. Read more here (login required).

Cargojet CEO Virmani to move to executive chairman role
aircargonews.net
Canadian cargo airline Cargojet has announced some major changes to its senior leadership team.
Effective January 1, Pauline Dhillon, currently serving as chief corporate officer, and Jamie Porteous, currently chief strategy officer, will be appointed co-chief executives. Read more here.

OCEAN FREIGHT UPDATES

Shipping locks in Panama Canal diversion plans
splash247.com
The global seaborne trading map is in flux as shippers and shipowners reassess alternate routes to the parched Panama Canal, a waterway that accounts for 3% of all global maritime trade, which is in the process of slashing the amount daily transits in half as a drought prevention measure.
Analysis carried out for Splash by Sea, Oceanbolt and VesselsValue shows the scale of ongoing vessel diversions, with ships now taking far longer to get their destinations.  Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Diminished inventories may boost holiday expediting
freightwaves.com
Outbound tender volumes spiked out of two of the nation’s largest origins last week after a relatively subdued October. This unseasonal spike in demand may be a sign of things to come this holiday season after a year of shippers having a relatively easy time getting transportation capacity. Read more here.