Newsletter – February 1, 2024

AIR FREIGHT UPDATES

IATA updates industry manuals for cargo and ground handling
aircargonews.net
IATA has updated its industry manuals for cargo and ground-handling operations, with more than 300 updates made.
Some of the major changes in terms of cargo include those made to regulations related to live animals, perishable cargo, temperature-controlled cargo, operational risk assesment, and ground handling training and procedures. Read more here.

Airfreight rates on the up as January draws to a close
aircargonews.net
Airfreight rates in January climbed as the month progressed due to the approaching Lunar New Year holiday and anecdotal reports of a move from sea to air due to the Red Sea crisis.
The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in the last full week of January rates from Hong Kong to North America climbed 8.4% on a week earlier to $5.15 per kg. Read more here.

Two-month delay to ANA’s Nippon Cargo takeover
aircargonews.net
All Nippon Airways (ANA) has again delayed its takeover of freighter carrier Nippon Cargo Airlines (NCA) as regulators continue to examine the deal.
ANA had been hoping to complete the transfer of shares on February 1 but this has now been pushed back until April 1. Read more here.

OCEAN FREIGHT UPDATES

Belgian port blockaded as farmer protests spread across Europe
theguardian.com
The Belgian port of Zeebrugge was blockaded on Tuesday, causing gridlock on surrounding roads as a wave of farmer protests spread across Europe.
Authorities at the North Sea port, one of the biggest in Europe, said all access roads were blocked by 5pm (1600 GMT) on Tuesday, in a demonstration that will hit commercial trade, including imports and exports of food to and from the UK, Ireland and Scandinavia. Read more here.

Can ONE, Yang Ming and HMM compete without a new alliance partner?
theloadstar.com
Jilted THE Alliance (THEA) partners ONE, Yang Ming and HMM are ’keeping schtum’ on their future following the departure of Hapag-Lloyd next year.
Yesterday’s Q3 (October to December) financial results from Japanese carrier ONE were conspicuous by the absence of any mention of THEA – and that lack of reference also extended to the message from its CEO. Read more here.

Evergreen spends $532m to boost its holdings in box terminals
theloadstar.com
Evergreen general manager Wu Kuang-hui said this week that container shipping would continue to feel the impact of the Red Sea crisis and the drought-afflicted Panama Canal for at least a few more months.
He said: “Supply-demand dynamics and vessel arrivals have been distorted by the Red Sea crisis and the Panama Canal drought. This will persist for at least a few months and accordingly, vessel turnaround will face upheavals. So this year, the market can expect dramatic changes, … Read more here.

CMA CGM readies methanol retrofits
splash247.com
CMA CGM has signed up a series of containerships for a methanol dual-fuel revamp in China, joining the likes of Maersk, COSCO and Hapag-Lloyd.
The French carrier has earmarked its conventionally-fuelled 9,300 teu ships for the project at CSSC Qingdao Beihai Shipbuilding. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

Forecast 2024: Navigating a tricky economic terrain
ajot.com
Fasten your seat belts and enjoy the ride. Like airline travelers bracing for expected turbulence, business owners are preparing for a tricky operating environment in 2024. On the upside, the economy will continue to grow, although at a slower pace. Consumers and businesses are both feeling fairly optimistic, unemployment remains low, capital investments are plugging along at a healthy pace, and the all-important housing market is burgeoning. Read more here.