International trade April 2021 News [Procurement – Logistics – Compliance]

International trade April 2021 News [Procurement – Logistics – Compliance]

New freighters for Amazon in Canada

As part of the expansion of its air network, Amazon has ordered two Boeing 767-300 cargo planes from Cargojet. The Ontario-based company announced that the two convertible cargo aircraft will enter service in Canada by mid-year under a four-year contract. Three options with a two-year extension proposal will also be available

Recently, Amazon also purchased 11 other aircraft similar to the latest ones ordered from CargoJet. Seven of these eleven Boeing 767-300s were ordered from Delta Airlines, and the other four from Canada WestJet.
This is the first time it has owned aircraft assets directly rather than leasing them in the five years since Amazon Air was launched. Amazon decided to change its strategy to meet its two-day delivery commitment to customers, or one day for customers with a Prime subscription.

The two aircraft delivered to Cargojet are derived from that line of passenger planes. They are also among the first to be equipped with cargo storage, reinforced decks and other necessities for specialised cargo operations.

According to the investment group, Amazon's contracted airlines, Atlas Air, ATI, Southern Air, Sun Country and ABX Air, flew about 137 flights a day, or 4,200 flights in March with their fleet.

Eric Kulisch

Freight Waves

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8 April 2021

The reasons why Ever Given shippers will share the costs of salvaging a ship

On April 1, Ever Given's owner told Evergreen it had announced an overall average following a resurrection effort on the Suez Canal last month, a spokesman for the operator confirmed Supply Chain Dive. According to a CNBC report citing Egyptian media, Egyptian officials recently said they could claim more than $1 billion in damages to cover the equipment used to rescue the ship, the 800 people working to save the ship and the lost canal revenue. coverage. Pribyl is not involved in the Ever Given case and has spoken extensively about the overall average. Cargo should be thrown overboard from time to time to unload cargo and save the ship in emergency situations.

According to documents obtained by The Loadstar, the organiser in the Ever Given case is Richard Hogg Lindley. The last time a large container ship recorded an overall average following the Maersk Honam fire was in 2018. In a note on the overall average reported by Ever Given, the British International Freight Association said a cash deposit would be required if insurance was not provided. On Thursday, Ever Given was still at Great Bitter Lake, so when will she continue her journey and be available to cargo owners.

Shippers carrying cargo aboard the MV Ever Given will have to wait a long time before their containers are released.


Matt Leonard

Supply Chain Dive

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12 April 2021

Successful first quarter earnings for container shipping

Container ship owners and operators won't report their final first quarter results for another month, but the first three revelations show what will happen. The first quarter looks much better than the fourth quarter of 2020. For most container shipping companies, this could be the best quarter in their history from the second quarter. Evergreen reports new Taiwan operating revenue of $32.17 billion in March, up 135% year-on-year and 40% year-on-year in Q4 2020.

First-quarter revenue was NT$90.24 billion, or US$3.17 billion, and was slightly more than double the first-quarter 2020 revenue. It points to Evergreen's revenue growth for the first quarter, arguing that similar learning should apply to ZIM. Accordingly, Fearnleys estimates that ZIM's revenue for Q1 2020 will be $1.8 billion-$2 billion, with revenue before minimum interest, taxes, depreciation and amortization of $800 million. In short, ZIM generates more than 50% guidance for fiscal 2020 in one quarter.

MPC Containers charters a fleet of 60 smaller box ships, most of which can accommodate between 1,300 and 2,800 units, or 20 feet. On 27 February, the company forecast 2021 revenue of $200 million to $240 million and EBITDA of $90 million to $120 million. On Monday, it raised its revenue forecast to $230 million - $260 million and EBITDA of $120 million - $140 million. In the US market, listed container ship charterers include Atlas Corp, Danaos, Costamare, Capital Product Partners, Global Ship Lease, Navios Partners and Euroseas.

There are too few ships available due to strong growth in port volumes and congestion, with more than 4% of the container fleet idle in port queues, said Mørkedal, who noted that the charter period has increased to a maximum of 10 years. In a share disclosure on the Hong Kong Stock Exchange, it reported a net profit for the first quarter of 2021 of 15.45 billion yuan, or $2.36 billion. This is 53 times the COSCO profit reported in the first quarter of 2020.

Jefferies analyst Andrew Lee commented that COSCO's Q1 estimate exceeded both the full-year 2021 estimate and our consensus estimate of 10.8 billion yuan and 13.1 billion yuan. To put this huge number in context, COSCO's estimated Q1 earnings are 56% higher than the company's earnings for the full year 2020.

Greg Miller

Freight Waves

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15 April 2021

Ships freed from the Suez Canal arrive in ports

Ships blocked due to the blockade of the Suez Canal have started to arrive in ports this week and more are expected to arrive next week, according to a database created by the port of Rotterdam, the latest operational update from the port of Antwerp. Project44 data. An analysis of Project44 found that Singapore and Rotterdam could see the biggest impact. Ships with a capacity of 196,600 TEU sail to Rotterdam, where 85 ships are in port or anchored.


Matt Leonard

Supply Chain Dive

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21 April 2021

Rising warehouse rents, less posts and surge in imports

The ongoing import boom at US ports is putting pressure on storage markets around ports, according to a recent CBRE analysis. CBRE said port city markets had an inventory availability rate of 3.6% at the end of 2020, 1 point below the national average. CBRE said the low amount of available supply led to record rental rates.

Matt Leonard

Supply Chain Dive

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26 April 2021

Tesla makes quick profits thanks to Bitcoin

Electric-car maker Tesla Inc. reported record net income of $438 million in the first quarter on revenue of $10.39 billion, slightly below analysts' revenue expectations. First-quarter revenues nearly doubled from $5.99 billion a year ago. Musk said suppliers expect battery production to double by 2022. Tesla's widely reported $1.5 billion acquisition of cryptocurrency Bitcoin paid off almost immediately.

Tesla is accepting deposits and allowing customers to buy their vehicles with Bitcoin. Like all automakers, Tesla was suffering from a global shortage of semiconductors. Tesla said on Monday in a letter to its shareholders that it expects an average annual growth of 50% in vehicle deliveries over a multi-year horizon. Musk said 2 million Teslas will be released next year. Model Y production continues to ramp up at Tesla's Shanghai Gigafactory. New plants in Austin, Texas and Berlin are expected to go into full production in 2022.


Alan Adler

Freight Waves

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