Newsletter – September 29, 2022
AIR FREIGHT UPDATES
Air cargo still benefiting from high cost of box shipping
Air cargo will continue to benefit from the narrowing of pricing compared with ocean shipping despite that difference coming down in recent months.
Speaking on day one of the IATA World Cargo Symposium (WCS), IATA chief economist Marie Owens Thomsen pointed to statistics showing that the gap between ocean and airfreight pricing was at its lowest level in September last year when port congestion had sent container pricing to record highs. Read more here.
VIDEO: IATA’s Brendan Sullivan on air cargo’s key challenges
The Air Cargo News team caught up with IATA global head of cargo Brendan Sullivan to discuss the importance of this year’s World Cargo Symposium and also to find out a bit more about how the association is tackling key industry challenges. View the video here.
Closing the sustainability knowledge gap in air cargo
There are huge divides in the understanding of sustainability and this is a barrier to progress in air cargo.
Speaking during day two of the IATA World Cargo Symposium (WCS), CargoAI chief commercial officer Magali Beauregard said we need to make sustainability knowledge accessible.
“This is a topic for experts by experts. We need to look what we can do to close the gap. Otherwise the small and medium-sized market will be left behind,” she said during the Innovating to Achieve Net Zero session within the sustainability stream. Read more here.
OCEAN FREIGHT UPDATES
Temporary Service Suspension – Sequoia Service
Due to significantly reduced demand for shipments into the US West Coast during the past weeks, MSC will be taking certain actions in order to strengthen our offered transit times and reliability. We will therefore temporarily suspend our Sequoia service under 2M until further notice to alleviate existing port congestion.
As from vessel GERNER MAERSK, voyage 242N – PF position 18 October in Ningbo, and until further notice, there will be no more sailings on the Sequoia service.
The Sequoia service will be merged into the Jaguar service, with the following rotation:
• Shekou – Nansha – Yantian – Ningbo – Shanghai – Long Beach – Busan
All cargo currently carried on the Sequoia service can hence be carried on the Jaguar and Orient services, with similar or better transit times.
This temporary suspension and associated network changes will also help remove the last remaining waiting times for berthing in Los Angeles.
Should you have any questions, please contact your local MSC representatives in our global network of more than 675 offices.
We thank you for your continued support.
MSC Mediterranean Shipping Company
Port of Halifax Bounces Back after Hurricane Fiona
The Port of Halifax is fully operational following the arrival of Hurricane Fiona on September 23. The harbour and terminals were closed for less than 24 hours and, by the morning of September 25, all vessel, rail and terminal operations were back in business.
Prior to the storm, the Halifax Port Authority activated its emergency preparedness group to ensure a safe shutdown and efficient start-up.
Seattle dispute sends jitters as US west coast dockworker talks drag on
A senior official with the International Longshore and Warehouse Union (ILWU) in Seattle said in a statement on Tuesday that the union is “shocked” by action taken by SSA Marine – the largest marine terminal at the Seattle port – while contract negotiations continue between ILWU and the Pacific Maritime Association (PMA), which represents maritime and port employers on the US West Coast. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
World Bank cuts 2022 East Asia growth outlook, cites China slowdown
Read more here.