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FedEx suspends some Sunday deliveries – unlikely to appease angry contractors

FedEx Ground says it is scrapping a number of its Sunday deliveries in the US, but will the move ease contractor anger over falling profits? Source

Carriers ‘must commit to berthing windows’ as N Europe ports see volumes fall

North European hub ports of Rotterdam and Antwerp-Bruges handled fewer containers in the first half of this year compared with H1 2021, but extended dwell times meant that yard density and terminal congestion increased significantly. Source

SM Line chief eyes IPO revival by 2024 – but no ambitions to acquire HMM

South Korean liner operator SM Line has decided to invest its excess funds in its larger compatriot rival HMM. Source

Ripples from Black Sea shipping crisis hitting regional supply chains

Increasingly complex supply chains have been made more complex by Russia’s invasion of Ukraine in February, which disrupted the country’s logistics industry and caused a ripple effect throughout regional container markets. Ukrainian Black Sea and Azov Sea ports shut down shortly after the invasion, and Russian naval forces blocked Ukrainian facilities, threatening to attack any…

DFDS boosts Irish expansion with takeover of Lucey Transport Logistics

Bolt-on deal: Denmark's DFDS has bought Ireland's Lucey Transport Logistics, acquires 70 trailers, 240 staff, 38,000sq metres warehousing Source

Analysis: Exceptional DSV summits beat peak Kuehne

Mean, lean machine DSV delivered, unsurprisingly, strong Q2 22 numbers as it keeps targeting its own stock rather than going for any other target, it emerged today from its interims and a follow-up call with analysts. (It’s investing more heavily, in fact, in its own stock via a Dkr7bn… yes, about $980m… share buyback programme…

Coca-Cola gets a taste for cheaper inland waterway service in India

Coca-Cola is among the first shippers to benefit from an inland waterway container service for India-Bangladesh cross-border trade.  Source

Truckers end port of Oakland protest blockade over AB5 law – for now

Cargo is finally flowing again through the port of Oakland after a blockade by truckers had paralysed freight traffic. Source

K+N targets SMEs for growth as it celebrates ‘another outstanding quarter’

Kuehne + Nagel saw its profits soar by 79% in Q2 as it celebrated “another outstanding quarter” and remained bullish about outlook. Source

Exclusive: AF-KLM looks set to take commercial control of CMA CGM Air Cargo

Air France-KLM is set to take full commercial control of CMA CGM Air Cargo – but has only until December 1 to form a full cargo agreement. Source

SA’s Wall Street Breakfast: Earnings on rush

SEEKING ALPHA‘s Wall Street Breakfast daily is now out: In arguably the most important week for Wall Street this summer, with the Fed decision and GDP on tap, earnings could actually end up determining direction. There are 175 S&P 500 (SP500) (SPY) companies set to report Q2 results, including 12 Dow (DJI) (DIA) components. Big names…

Supply chain radar: The final days of the final mile

The chickens are finally coming home to roost. As the start-up era of “Get Big Fast” (AKA “growth through any means”) draws to a close, the inevitable WeWork-style commercial hangover begins. Currently, it is the final mile delivery companies that are being culled. You know – the ones who would take over the world, with…

OceanX radar: Ker-ching! for Yildirim; Saadé vs France; party time at Matson

Straight to the podium today: 1) Gold Medal: goes to Robert Yildirim for his smart investment in CMA CGM back in the post-financial crisis dark days of box shipping…. Last week’s interview with the JOC – in which he estimates the value of his shares in CMA CGM (24%) as worth $22bn – shows it…

Covid outbreak discovered on ONE ship in Busan

Several crew members on ONE Competence, an 8,110 teu ship operated by THE Alliance, tested positive for Covid-19 while the ship was at berth in Busan last week. ONE Competence, which plies the transpacific trades to the US west coast, had entered the HMM PSA Pusan Newport Terminal last Monday, according to vessel-tracking data, and…

SMEs join sourcing shift away from China as Covid policy dents confidence

The production shift from China to South-east Asia is accelerating – now “even SMEs” are searching for alternative supply chains in the face of China’s restrictive Covid policies. According to Hong Kong-based digital wholesale marketplace Peeba, while the world is likely to see record Covid cases this winter, this is unlikely to lead to more…

Rising costs and late crops take big bite out of fruit air exports

Despite lockdowns and restricted airfreight capacity, Chinese consumers have not lost their appetite for North American cherries. But, imports are well below previous years’ levels. Source

Forwarders and shippers want EC to urgently review liner block exemption

Ten shipper and forwarder organisations have urged the European Commission (EC) to bring forward the review of the Consortia Block Exemption Regulation (CBER). Source

Gloomy outlook for container freight market as rates continue to fall

A deteriorating picture of the container freight market outlook is painted by the Maritime Strategies International’s (MSI) July Horizon report. The analysts say they continue to expect container markets to “run out of steam” in the third quarter, with “a sharper drop-off in Q4 as the unwinding supply chain disruptions and cooling consumer demand drive…

Indian exporters face more blank sailings on Europe services

Indian shippers are seeing no real respite from ongoing vessel schedule disruptions, particularly on connections to Europe.   Source

SA: Walmart shares fall ~ 8% after hours as US-retail giant cuts profit outlook for Q2, FY

SEEKING ALPHA reports: – Shares of Walmart (NYSE:WMT) fell 8.2% after hours on Monday as the U.S.-retail giant lowered its profit outlook for Q2 and FY 2023. – The company said its operating margin was now expected to be about 4.2% for Q2 and 3.8% to 3.9% for FY 2023. – The guidance cut was “primarily due to…

Snapshot: Neumann’s NOYTECH born out of Kuehne + Nagel Russia & CIS

Just less than five months since the Russia-Ukraine war began, Swiss forwarder Kuehne + Nagel has completed the sale of its operation in Russia and the Commonwealth of Independent States. The deal’s value is undisclosed. As previously flagged in our Premium coverage last month (read this) the acquirer is led by a Kuehne + Nagel…

Against the odds: Dressed to KILL – DHL or Mærsk, or both?

If anybody can ever lead supply chain via the creation of a true end-to-end powerhouse in transport and logistics, that one star player is Germany’s DHL, not AP Møller-Mærsk (APMM). That’s one key takeaway from a lengthy conversation with LF Mastermind today, a source who, along with many others in our marketplace of late, was…

TT: Landstar reports Q2 records for revenue, earnings

Tranport Topics reports: Landstar System Inc. posted strong financial results for the second quarter — though they missed investment analysts’ expectations — and set a record for the first half. The Jacksonville, Fla.-based truckload carrier said July 20 that net income was $112.6 million, or $3.05 a diluted share, compared with $92.3 million, $2.40, during…

Airfreight rates out of Asia take a dive as demand from the west is ‘subdued’

Asian forwarders are reporting a large drop in airfreight rates, but don’t believe this is the end to elevated prices, nor a significant fall-off in demand. Source

Rich opportunities for regional cargo airlines blocked by pilot shortage

Bullish ATR forecast for regional freighters fails to take pilot shortage into account Source

M20 crash adds to freight misery at Dover, already beset by staff shortages

Freight movements in and out of Dover are facing substantive delays, which may last well into next week, amid staff shortages and a serious crash on the motorway to the Kent port. Chief executive of Port of Dover Doug Bannister said today such was the extent of the chaos that he was declaring it a…