By Ian Putzger 30/04/2020 Freighter conversion specialist Aeronautical Engineers has been busy, and the months ahead promise more work to come. “We signed some contracts over the last two months, and we’re going to sign some more -800 contracts in the next few weeks,” said Bob Convey, vice-president of sales & marketing of the company, […]
Category Archives: News & Events
Grim prospects for box carriers as collapse of demand weakens balance sheets
By Mike Wackett 15/04/2020 The risk of another major ocean carrier bankruptcy has grown with the worsening global economic outlook, liner consultancy Alphaliner said today. It explained that the unprecedented amount of capacity withdrawn in April and May, a result of a collapse in demand, “will hurt carriers’ operating cashflows and further weaken their fragile […]
WTO: Coronavirus crisis could rival Great Depression
“These numbers are ugly. There’s no way around that,” admitted World Trade Organization (WTO) Director-General Roberto Azevedo during a press conference on Wednesday, upon the release of the WTO’s coronavirus forecast. The trade organization outlined two potential scenarios: an optimistic V-shaped recovery in which world merchandise trade volume falls 12.9% this year and a pessimistic […]
Forwarders accuse $13/kg freighter airlines of ‘profiteering’ from Covid crisis
Airfreight rates for medical supplies have hit more than $13 per kg, causing some forwarders to claim that freighter airlines are “profiteering” from the Covid-19 crisis. But however, many medical supplies are no longer getting through to end-users, following new Chinese regulations. On 31 March, the Chinese government responded to complaints from the EU that […]
COVID-19 Freight Update: US ports, warehouses stay open
As the impact of the coronavirus disease 2019 (COVID-19) deepens in the United States, major ports, warehouses, and freight transportation providers are telling customers they will remain open as they are deemed essential services by the government. Essential staff supporting the ports of Los Angeles and Long Beach, including longshore workers and drayage drivers, for […]
US Department of Transportation Expands National Emergency Declaration for Commercial Vehicles Delivering Relief in Response to the Coronavirus Outbreak
Wednesday, March 18, 2020 WASHINGTON – The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) today issued an expanded national emergency declaration to provide hours-of-service regulatory relief to commercial vehicle drivers transporting emergency relief in response to the nationwide coronavirus (COVID-19) outbreak. “Under Secretary Chao’s leadership, FMCSA is providing additional regulatory relief to our […]
Coronavirus: Trump suspends travel from Europe to US
US President Donald Trump has announced sweeping travel restrictions on 26 European countries in a bid to combat the spread of the coronavirus. The ban applies to travellers from countries which are members of the Schengen border-free travel area. The UK, Ireland and other non-Schengen countries are unaffected. US citizens are also exempt. The EU […]
Air Freight Rates Soar
The “frenetic” air freight market has become “pay to play”, as prices soar. “This is one of the fastest peak seasons ever,” said one air freight forwarder. “The market has got very f..ked up, very quickly. “It’s becoming a pay-to-play market, and it’s all about deep pockets and whether shippers can afford to pay.” While […]
Coronavirus hits India’s shipping, while empty containers get scarcer
Coronavirus is beginning to impact shipping operations in the Indian subcontinent. Blanked westbound Asia-North Europe sailings mean export containers out of India that tranship at Colombo are not being picked up. In addition, the widespread closure of automotive component production facilities is having a severe impact on India’s burgeoning car manufacturing industry. Sujan Roy, head […]
White House forms China trade deal watchdog office
STR’s Bilateral Evaluation and Dispute Resolution Office will ensure China commits to “Phase One” trade obligations and provide forum for settling disputes involving the bilateral trade pact. Chris Gillis Monday, February 17, 2020 0 370 The White House has initiated a new office to ensure that China sticks to its commitments under the “Phase One” […]
