Newsletter- September 1, 2022

AIR FREIGHT UPDATES

Cathay Pacific prepares for muted cargo peak season

aircargonews.net
Cathay Pacific has added cargo capacity and has been in close dialogue with suppliers as it prepares for what is expected to be a muted peak season.
The Hong Kong-based airline said it has been adding extra passenger flights, cargo-only capacity and has ramped up freighter operations ahead of the peak. Read more here.

Lufthansa Cargo confirms pilot strike tomorrow and revamps schedules

theloadstar.com
Lufthansa Cargo has confirmed to customers that pilot union Vereinigung Cockpit (VC) has called for an all-day strike, beginning at midnight tonight.
The carrier warned it would mean changes to some flight schedules. Read more here (login required).

OCEAN FREIGHT UPDATES

Hapag-Lloyd starts installation of tracking devices on its dry container fleet

hapag-lloyd.com
Hapag-Lloyd has taken the first step in its major project to equip its entire dry container fleet with real-time tracking devices. The first of these IoT devices are now being installed on dry containers at the CMR depot in Wilhelmsburg, a district of the shipping company’s hometown of Hamburg. In the following weeks and months, installations will begin in other selected container depots in North and South Europe, Asia and the Middle East. Read more here.

Only 8 ships waiting off Southern California — but 41 off Savannah

freightwaves.com
And then there were eight. That’s the number of container ships waiting for berths at the ports of Los Angeles and Long Beach on Monday, the lowest tally since the early stages of consumers’ COVID-era buying spree. The epic container ship traffic jam that was once a highly visible symbol of the supply chain crisis has now almost vanished.
It’s a different story for North America as a whole, however. The number of container vessels waiting offshore of all ports has remained roughly steady at an extremely elevated level throughout this month, at around 130 ships. Read more here.

GROUND AND RAIL FREIGHT UPDATES  

‘Race to the bottom’ in truckload contract rates sets in

freightwaves.com
Pressure is being let out of global freight markets as demand falls and lower volumes in a variety of modes are more easily handled by the capacity and infrastructure built up during the last two years of the COVID-19 pandemic.
Transportation rates in several modes, including truckload and ocean container, are falling as demand deteriorates and capacity loosens. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES 

China Locks Down Megacity Chengdu as Covid Zero Intensifies

bloomberg.com
The Chinese metropolis of Chengdu locked down its 21 million residents to contain a Covid-19 outbreak, a seismic move in the country’s vast Western region that has largely been untouched by the virus.
The capital of Sichuan province, Chengdu is the biggest city to shut down since Shanghai’s bruising two-month lockdown earlier this year. The move — which will upend the lives of millions of people and businesses, with repercussions for China’s economy and beyond — shows the country’s commitment to the Covid Zero approach espoused by President Xi Jinping, despite the disruption it’s causing. Read more here.