Sea-Air Services Make a Comeback, But Volatility and Uncertainty Lurk

May 19, 2020

The sea-air business via Dubai and Singapore is back up and running, as air freight rates continue to stabilise.

Aeromar Sea Air, which suspended its business in March when air freight rates skyrocketed in Asia as passenger aircraft stopped flying, said it was re-introducing services.

“We still have some limits on capacity, but there is enough to offer a professional service; so we are back,” said managing director Nick Coverdale.

“Rates are stable, in the context of the current market – although in normal, sane times they would be considered unstable. Nothing makes much sense at the moment.”

For the full story, please click HERE

Source: The Load Star

Hamburg Q1 Throughput Suffers, But Port Has Faith ‘Things Will Pick Up’

May 18, 2020

Germany’s largest port, Hamburg, saw throughput at its container terminals in the first quarter decline 6.6% decline, year on year, to 2.2m teu.

However, there could be worse to come in quarter two as a result of consumer lockdowns in Europe and the subsequent plunge in transhipment cargo for the Baltic.

Trade with China accounted for around a quarter of Hamburg’s 9.3m teu last year, so volume was particularly impacted by the coronavirus outbreak and extended new year holiday lockdown in the Asian manufacturing powerhouse.

For the full story, please click HERE

Source: The Load Star

Ports of Tacoma And Seattle See 23.5% Volume Drop

May 18, 2020

The Northwest Seaport Alliance (NWSA) handled 247,675 twenty-foot equivalent units (TEUs) in April, a 23.5% year-over-year decline in total container volume.

“The economic fallout from the COVID-19 pandemic continues to disrupt the global supply chain,” NWSA CEO John Wolfe said during a press conference Monday.

Empty containers moved plunged 38.3% year-over-year, from 276,731 TEUs in April 2019 to 170,622 TEUs this year. Full exports declined 17.6% year-over-year in April and full imports decreased 13.9%.

“During the first four months of 2020, we handled 1,036,556 TEUs. As a result, the total cargo volume is down 17.5% over last year through April,” Wolfe said.

For the full story, please click HERE

Source: American Shipper

China-Europe Rail Freight Services Buck Falling Volumes Trend

May 14, 2020

China-Europe rail freight is bucking the pandemic-wide trend of falling air and ocean volumes, boasting double-digit growth this year.

According to China Railway Group, 2,920 trains ran between January and April, carrying 262,000 teu, up 24% year on year. Last month alone, westbound volumes were up 58% and eastbound 29%, totalling 88,000 teu.

Duisport reported its weekly China trains for April had increased from the “normal” 35-40, to 50, following the end of the lockdowns in China.

For the full story, please click HERE

Source: The Load Star

China Waives Retaliatory Tariffs on 79 US Import Categories

May 13, 2020

The announcement to waive tariffs on 79 categories comes as China’s imports from the U.S. fell by nearly 26% in April, casting doubt about the country’s ability to meet its purchasing requirements under the Phase One trade deal.

To fulfill its end of the bargain, China must purchase $200 billion worth of U.S. commodities, namely agricultural goods, over the course of two years. In December, the Chinese government announced tariff waivers on some imports of U.S. soybeans and pork. However, with the global economy fast approaching a recession, or even a depression, that purchasing target remains far away.

For the full story, please click HERE

Source: Supply Chain Dive