NEWSLETTER – OCTOBER 17, 2022

AIR FREIGHT UPDATES

Cathay Pacific remains positive on cargo despite latest decline

aircargonews.net
Cathay Pacific remains positive about the upcoming cargo peak season despite registering another downturn in volumes in September and a reduction in cargo-only flights.
The Hong Kong-hubbed airline reported a 20.6% year-on-year decline in cargo carried to 104,055 tonnes during September while the cargo load factor stood at 66.4% – a drop of 13.3 percentage points compared with a year earlier. Read more here.

OCEAN FREIGHT UPDATES

Evergreen joins compatriot lines in renegotiating shipping contract rates

theloadstar.com
Evergreen has followed its fellow Taiwanese carriers, Yang Ming and Wan Hai, in beginning to renegotiate contract terms with shippers.
The carrier’s general manager, Eric Hsieh, said today: “We need to reduce the spread between the contract and the spot market. Read more here.

Liverpool dockworkers to stage further two-week strike

splash247.com
Hundreds of port workers at the Port of Liverpool, one of the UK’s largest container ports, will stage two more weeks of strikes over pay and jobs.
Nearly 600 dockworkers will walk out again from October 24 to November 7, after industrial action over recent weeks, the Unite union has said. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Tide of US shippers fed up with import delays look to near-shoring instead

theloadstar.com
Opportunities have opened up for trade between the Americas, as US-based companies have begun to shift sourcing to the region.
As a result, Richard Seeg, president of Houston-based breakbulk carrier Intermarine, said the firm had moved a growing volume of materials from Mexico and Colombia to other points involved in US near-shoring. Read more here.