Hints and tips:
...Shipping companies scrapped older vessels during 2020, when car factories worldwide were idled owing to the pandemic, while many replacement vehicle carriers are not expected to be ready for another three...
...Today in notable charts: That’s London consultancy Drewry’s index tracking the cost of container shipping worldwide....
...Apollo Global Management has shed its financial exposure to failed US trucking company Yellow, selling off a $500mn term loan and dropping plans to extend pricey financing to fund the freight group’s bankruptcy...
...Competition for assets has been fuelled by cash reserves that freight groups worldwide built up when disruption and increased ecommerce spending boosted demand for logistics services during the Covid-19...
...Yellow’s bankruptcy could also have an impact on the domestic supply chain, driving up freight prices for customers as one of the industry’s lower-cost carriers exits the market....
...Worldwide, Iata predicted RPKs would reach 87.8 per cent of the 2019 level....
...“You couldn’t find two carriers that were more different.”...
...Forward-looking indicators, especially in container shipping, are looking pretty grim: orders are dropping and the number of “blank sailings”, where carriers cancel trips, is rising....
...For every two seats of airline capacity added worldwide, one is in Asia, the company said....
...So, have governments and the freight industry done anything to prevent this?...
...Supply chain woes provide a support even as freight rates and volumes fall....
...Logistics, a freight brokerage....
...Maersk raised its profit forecast for the third time this year and said a “gradual normalisation” in freight rates was unlikely to happen before the fourth quarter....
...Some carriers went bust and the world’s top shipping lines formed three alliances, sharing space on voyages. Now, the world’s leading nine carriers control 83 per cent of tonnage....
...Keith Winters, chief executive of Crane Worldwide Logistics, another freight forwarder, echoed her concern, saying that ocean carriers had become more conservative about offering slots to move cargo by rail...
...After a period of financial difficulties, the French group is now flush with cash as bottlenecks and logistical problems during the pandemic have boosted freight rates....
...Get the latest worldwide picture with our vaccine tracker And finally... Thinking of an autumn break?...
...It’s only just starting to bite,” said Philip Edge, chief executive of Edge Worldwide Logistics, a Manchester-based freight forwarder....
...By his calculation, he added, SoftBank’s investment in unlisted AI companies represented about 10 per cent of the total capital raised by such companies worldwide since 2017....
...Despite the worldwide vaccine rollouts, global passenger traffic was down 72 per cent in January, when compared to the same month in 2019, according to industry body Iata....
...Philip Edge, chief executive of UK freight forwarder Edge Worldwide, said some businesses were being charged $12,000 per container, up from about $2,000 in October....
...IndiGo Airlines, India’s biggest domestic carrier, is already planning for a potential third wave of coronavirus in November by building a $1bn war chest....
...The carrier, which employed almost 140,000 people before the pandemic, has already cut almost 30,000 jobs, and said it would have to axe roughly 10,000 more in Germany....
...“In the current situation, many factors could be at the origin of the price hikes, such as fluctuating high demand, port congestion, and shortage of containers, in markets which are intertwined at worldwide...
...It now has 10,000 of its 125,000-strong fleet worldwide electrified. Then it decided to invest in its own electric vehicle working with Arrival, a UK start-up....
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