NEWSLETTER NOVEMBER 21, 2022
AIR FREIGHT UPDATES
‘Ban’ on expensive airfreight as hard-hit retailers review supply chains
Retailers are rejecting air freight, and returning to the ocean market where prices are low and reliability has improved.
Too much stock and too little consumer demand has seen volumes from some retail customers fall 90%, said one European forwarder. Read more here (login required).
Weak air cargo demand continues into November
There are still no signs of any fourth-quarter (Q4) seasonal uplift in air cargo demand or pricing, with the downward trend of the last several months continuing into the second week of November – when peak season is usually in full flow. Read more here.
MSC Air Cargo exec team take their seats
In a timely piece of reporting, FreightWaves highlighted on Friday that MSC Air Cargo pushed forward the start date for its global freighter service.
Air trade specialist Eric Kulisch noted the ocean carrier’s “new airline will have 4 Boeing 777 cargo jets”, as expected leased from Atlas Air and starting from December – instead of January, as earlier envisaged. Read more here (login required).
OCEAN FREIGHT UPDATES
Maersk scouts gaming society for fresh talent
A.P. Moller – Maersk is looking to diversify its talent pool by hiring more gamers to help the company accelerate its digital transformation efforts.
Angel Donchev, tech lead at the world’s second-largest liner, recently attended an esports event in Copenhagen to promote Maersk’s job openings to gaming enthusiasts. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Used truck prices fall as OEM supply chain clears
The trend is clear. Used truck prices continue to fall across almost all years and models as new truck manufacturers gain an upper hand over supply chain disruptions.
So, those who purchased a used truck at a sky-high price a few months ago could be feeling buyer’s remorse, especially as spot freight rates have tumbled with contract rates falling right behind them. Read more here.
Freight demand has not found the floor
Container imports, rail intermodal shipments and truckload demand have fallen from their lofty peaks during the pandemic era and may be a better indicator of how inflation will be tamed in the coming months than the Consumer Price Index (CPI) itself. Read more here.