Lack of Freighters Means a Capacity Crunch and Limited Air Cargo Growth
While air cargo demand factors will be hard to predict in “a year of uncertainty,” the outlook for capacity, exacerbated by an ageing fleet and slow deliveries, is depressingly clear, delegates at this week’s World Cargo Summit in Bruges heard.
Global Air Cargo Demand Achieves Record Growth in 2024
The International Air Transport Association (IATA) released data for full year 2024 and December 2024 global air cargo market performance showing:
Gemini Cooperation Launches Operations
Gemini Cooperation, which was jointly planned and implemented by Hapag-Lloyd AG and Maersk A/S, started operations on February 1. The ambition is to deliver a fast, flexible and interconnected ocean network with industry-leading reliability of over 90% once fully phased in. By June 2025, all vessels are expected to operate according to the new schedule.
Rubio Calls ‘Status Quo’ at Panama Canal Unacceptable, as Trump Renews Vow to Seize It
Secretary of State Marco Rubio arrived Sunday with an ultimatum from the White House for Panamanian President José Raúl Mulino: Either curtail China’s presence around the Panama Canal or face an unspecified U.S. response.
Suez Canal Authority Says Stability Returning to Red Sea
Suez Canal Authority Chairman Osama Rabie has told shipping giant AP Moller-Maersk there are signs of stability returning to the Red Sea, and urged the company to take that into account when planning sea routes, according to a statement from the SCA.
CN, IBEW Agree to Tentative Pact; CPKC Reaches Deals with Unifor, TCRC-MWED
Both CN and CPKC have announced new tentative four-year collective agreements, CN with the International Brotherhood of Electric Workers (IBEW), CPKC with Unifor.
Chinese New Year Rush and Threat of Tariffs Leaves Box Ports Congested
The Chinese factory rush to get goods out before the new year holiday, and the threat of U.S. import tariffs, have seen global container port congestion hit a three-month high.
Proposal for IMO-Controlled Shipping Decarbonization Fund Gains Traction
Some 47 governments and industry groups are lobbying the International Maritime Organization (IMO) to implement an emissions pricing mechanism for greenhouse gases (GHG) to raise a fund to decarbonize shipping.
‘An Absolute Mess’: B.C. Container Truckers Frustrated by Port Reservation System, Closures and Delays
B.C.’s container truck drivers say they want changes to the port reservation system, which penalizes them when they are stuck in traffic or delayed by bad weather, but provides only limited compensation when terminals cancel scheduled pickups and drop-offs.
Alliance Reshuffle Will Increase Box Ship Shortage as Carriers Hunt ‘Buffers’
The combined capacity of the liners controlling more than 1% of the global liner fleet grew by 10.3% last year, according to Alphaliner.