Dry Markets plummeting, whilst Wets struggle with Coronavirus rocking Geopolitics
Despite the fact that last week ended on a falling note despite the 56 points plus – 1,810 (22/01) vs. 1,754 (15/01), this week Capes’ fall of 1,080 points brought the BDI down to 1,452 points. Wets falling too following a short lived “rise”, now struggle to remain above the 500 points. Geopolitics might surprise you all given the Coronavirus developments. John Faraclas daily and weekly recap:
The BDI...
BIFA Freight Service award winners triumph over adversity
Despite a year beset by multiple operational difficulties and uncertainties, there were many outstanding entries in the BIFA Freight Service Awards 2020 – the very best of which have now been announced in a series of online video presentations this week.
In the Air Cargo Services category, which was sponsored by ASM UK, Simarco Worldwide Logistics triumphed over fellow finalists DHL Global Forwarding, Kerry Logistics and...
https://allaboutshipping.co.uk/2021/01/28/bifa-freight-service-award-winners-triumph-over-adversity/
Joint course International Port Strategies C-MAT – APEC – IAPH
This course is a collaboration between APEC, your trusted knowledge partner in the port and maritime industry, Antwerp Management School – C-MAT, Antwerp’s international reference for port and maritime academics linked with the University of Antwerp, and IAPH, the International Association of Ports and Harbors. Through this partnership, we will present a mix of experienced port professionals, academics and global policy makers on the...
U.S. airlines, casting themselves as a vital cog in the economic recovery from the pandemic, appealed Monday to the incoming Biden administration for more flexible, risk-based COVID measures that will enable the safe revival of air travel and with it the revenues necessary to survive.
In a letter to Transportation Secretary-designate Pete Buttigieg obtained by FreightWaves, the Airlines for America (A4A) warned that some carriers, and thousands of their workers, may not be around to transport...
https://www.freightwaves.com/news/airlines-ask-biden-buttigieg-dot-to-focus-on-covid-recovery
The damage to the airline industry from the coronavirus pandemic last year totaled $391 billion in lower revenue as 60% fewer passengers took to the skies, according to a tally by the International Civil Aviation Organization.
The financial hardship has continued into 2021 as airlines try to cope with a double-dip recession. Experts are maintaining their outlook for a prolonged depression in passenger demand that will likely keep airlines at a diminished size for several years.
ICAO estimated...
https://s29755.pcdn.co/news/airlines-absorb-391-billion-revenue-shortfall-in-2020
The jump in passenger traffic for U.S. airlines during the Thanksgiving and Christmas holidays was a mirage, not a sustainable source of revenue for overcoming the coronavirus crisis. On Thursday, Alaska Airlines said passenger volume and revenue since October has retreated again and Delta Air Lines (NYSE: DAL) sounded less optimistic about the next few months.
Ahead of a Jan. 26 earnings release, Alaska Air Group (NYSE: ALK) indicated that it will drain its pool of cash at a faster rate in the...
https://www.freightwaves.com/news/alaska-air-warns-of-increased-cash-burn-during-january
Delta Air Lines (NYSE: DAL) cranked up cargo revenue in the fourth quarter to $204 million, a 10% gain over the same period a year ago and a big improvement from the prior two quarters. Overall, the company met Wall Street expectations with an adjusted pretax loss of $2.1 billion on $4 billion in revenue.
The pretax loss of $2.53 per share came in slightly higher than the consensus among analysts of $2.50 and revenue was also above the estimate of $3.6 billion. In the third quarter, Delta’s...
https://s29755.pcdn.co/news/delta-grows-cargo-revenue-narrows-loss-to-21b-in-q4
Air Canada (TSX: AC) is reducing passenger system capacity by 25% and laying off 1,700 workers in the first quarter due to new Canadian travel restrictions aimed at curbing the resurgence of COVID-19, the company said Wednesday.
More than 200 employees in the airline’s regional express division are also being furloughed. Air Canada said it is working with unions to mitigate the impact on employees. The company released 20,000 workers in May.
The first-quarter reduction in flights will put...
https://www.freightwaves.com/news/air-canada-suspends-routes-as-covid-restrictions-bite-travel
Airlines operating in the U.S. are once again collecting the federal excise tax on freight shipments that were suspended for most of last year to help the industry survive the economic fallout from the coronavirus pandemic.
The $2.2 trillion economic stimulus package known as the CARES Act provided an aviation tax holiday from March 28 through the end of 2020. Airlines were not required to charge the 6.25% tax on goods shipped by air or the 7.25% tax on passenger tickets, as well as other...
https://www.freightwaves.com/news/airlines-reinstate-collection-of-federal-excise-tax-for-air-cargo
Airport and airline industry organizations are urging aviation regulators to adopt more flexible rules on valuable take-off and landing slots to help preserve air service in many communities, while also making some accommodation to low-cost carriers trying to gain more access to big, hub airports.
On Thursday, the International Air Transport Association, Airports Council International and an association of slot coordinators recommended the current suspension of use-it-or-lose-it flight quotas...
https://s29755.pcdn.co/news/aviation-groups-reach-compromise-on-airport-slot-relief