Newsletter – September 4, 2019
AIR FREIGHT UPDATES
Summer of air freight woes shows little sign of third-quarter recoverytheloadstar.comIt’s been a summer of poor headlines in air cargo. Cathay Pacific – before its current, Hong Kong-related problems began – saw first-half cargo revenues fall 11.4% year-on-year, with yields down nearly 3% and volumes down nearly 5%. Read more here (login required).
OCEAN FREIGHT UPDATES
Reefer shortage persists as perishables shippers opt for boxes, ONE orders 6,000theloadstar.comContainer shipping lines are rushing to order refrigerated containers (reefers) to plug an emerging gap between supply and demand in global perishables trades. Read more here.
Dorian to shut U.S. Southeast ports, intermodal for much of weekfreightwaves.comHurricane Dorian’s approach upward along the U.S. Southeast coast will shutter maritime and rail assets throughout the region during the week. Read more here.
The fallout from container port automationfreightwaves.comAutomation and “digitization” of container terminals can lead to job losses and reduced tax revenue that have a substantial effect on local economies.That’s the conclusion of a study by Prism Economics and Analysis commissioned by the International Longshore and Warehouse Union Canada. Read more here.
Shippers prepare for sharp ocean freight fuel price riseslloydsloadinglist.comMany cargo owners remain unclear about the impact on their freight costs of the incoming ‘IMO 2020’ low-suphur shipping fuel rules, although better information is now becoming available, says container shipping analyst and data expert Drewry – which is launching a ‘low-sulphur bunker price tracker’. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
China launches WTO case against U.S. tariffscbc.caChina has lodged a case against the United States with the World Trade Organization (WTO) over U.S. import duties, the Chinese Commerce Ministry said on Monday.The United States on Sunday began imposing 15 per cent tariffs on a variety of Chinese goods — including footwear, smart watches and flat-panel televisions — as China began imposing new duties on U.S. crude, the latest escalation in a bruising trade war. Read more here.
U.S. to leave global postal union next month barring last-minute action; exit could send global parcel rates soaringfreighwaves.comBarring an eleventh-hour agreement, the U.S. Postal Service (USPS) will leave the Universal Postal Union (UPU) on October 17, ending 144 years of U.S. involvement in the international body that governs the exchange of mail and postal parcels between countries, and perhaps fundamentally changing the landscape of global air shipping. Read more here.