Newsletter – July 2, 2019

AIR FREIGHT UPDATES

Pakistan extends closure of its airspace

thehindu.com

Pakistan on Thursday yet again extended its airspace closure for flights from and through India till July 12. Read more here.

Boeing Admits Air Canada 787 Documents Were Falsified

simpleflying.com

More bad news for Boeing as they admit to falsifying documents relating to a 787 sold to Air Canada. The Dreamliner was sold in 2014 and developed a fault just 10 months after entering service. Read more here.

OCEAN FREIGHT UPDATES

Port Report: THE Alliance brings in Korea’s Hyundai Marine as member

freightwaves.com

Hyundai Merchant Marine (HMM) will join THE Alliance as a full member. The move comes after an apparent rebuff of the money-losing Korean liner company’s efforts to strike a similar deal with the 2M Alliance. Read more here.

Shippers hit by soaring insurance costs for cargo crossing the Persian Gulf

theloadstar.com

CMA CGM, is to implement a war-risk surcharge (WRS) for cargo to and from ports in the Persian Gulf, as insurance underwriters hike premiums for ships transiting this ‘tinderbox’ region. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Cleanup continues at St. Clair River tunnel derailment

theobserver.ca

Recovery of sulphuric acid that leaked from one of approximately 40 rail cars that derailed Friday in a tunnel crossing beneath the St. Clair River was expected to be completed Monday, according to CN. Read more here.

China unveils a train that cruises at 373 miles per hour

freightwaves.com

With its sights set on redrawing the historic Silk Route across the world, the Chinese government has been sinking billions of dollars into expanding its transport infrastructure, both within the country and outside its borders. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Commentary: Vietnam’s air exports to the U.S. increase as China-U.S. trade war simmers

freightwaves.com

The Asian supply chain is best described as a spider web with China the central focal point. It was like that well before President Trump’s tariffs were implemented. Low-labor manufacturing was already shifting to other nations in Southeast Asia while manufacturing in China took a step up the value ladder. Read more here.