Newsletter – November 16, 2021

AIR FREIGHT UPDATES

Emirates invests $1 billion in new freighters and conversions

aircargoweek.com
Emirates SkyCargo today announced that it will induct two new Boeing 777Fs into its fleet in 2022 and also convert four of the airline’s Boeing 777-300ER passenger aircraft into freighters between 2023 and 2024. Read more here.

OCEAN FREIGHT UPDATES

Southern California ports delay fee for containers lingering in yards

theloadstar.com
The implementation of the proposed $100-a-day fee for containers lying in Los Angeles and Long Beach terminals after an initial nine-day period has been delayed for a week, after port officials said they were “encouraged by the progress our supply chain partners have made in helping our terminals shed long-dwelling import containers”. Read more here.

Covid congestion sees dramatic spike in shipping emissions at major gateways

splash247.com
Covid-19 is killing people living near ports, a new study has shown today, with stretched supply chains to blame.
The extreme congestion that has built up at major ports during the pandemic has seen shipping emissions soar at key gateways, research from Singapore’s Nanyang Technological University (NTU) shows.  Read more here.

FMC to examine data constraints in latest bid to alleviate US box crunch

splash247.com
Identifying data constraints that impede the flow of ocean cargo and add to supply chain inefficiencies will be the focus of a new Federal Maritime Commission (FMC) effort in the US to be spearheaded by commissioner Carl Bentzel.
This initiative will propose recommendations for common data standards used by the international shipping supply chain, as well as access policies and protocols that would streamline information sharing across the ocean supply chain. Read more here.

LA and Long Beach delay implementing container dwell fee

splash247.com
The Ports of Los Angeles and Long Beach have chosen to delay implementation of their container dwell fee directed at ocean carriers until November 22, a one-week postponement from the originally announced deadline of November 15. Since the controversial fee was announced on October 25, the two ports have seen a decline of 26% in lingering cargo on their docks. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Service Interruption – CP Cascade and CN Yale Subdivisions

ciffa.com
CP is experiencing a track outage on the Cascade subdivision, north of Hope, B.C. Per CP in its customer bulletin, CN is also experiencing an outage on the Yale subdivision, near Chilliwack, B.C. Both outages are impacting mainline train operations in those areas.
CP teams are on site and will inspect tracks on the Cascade subdivision. Currently there is no time frame for service to resume in the affected area.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Freight rate normalisation will take 18-30 months

lloydsloadinglist.com
Freight rates may have peaked for now and be coming down from their all-time highs. But any resetting to prior levels could take another two years, according to analysis by Sea-Intelligence.
Although the Shanghai Containerised Freight Index added 0.4% in the past week, other indices show a downturn in the rates paid, including Freightos’ Baltic Index, which recorded an 11% decline on its global index and a sharp 21% fall on the transpacific, and Xeneta, which also recorded a smaller decline on the Asia-US west coast routing. Read more here.