Industry News

Air freight rates ex-Asia begin to normalise

Falling demand for PPE from China and Hong Kong has led to the start of ‘a more regular pattern’ and a drop in ‘passenger freighter’ capacity.

FIATA and KIFFA postpone 2020 FIATA World Congress to 2022

In light of the COVID-19 pandemic, FIATA International Federation of Freight Forwarding Associations, together with the Korea International Freight Forwarders Association (KIFFA), have jointly decided to postpone the FIATA World Congress (FWC) scheduled to take place in Busan, Republic of Korea, on 19-24 October 2020. KIFFA will now host the FWC in 2022. The Asociación Panameña de Agencias de Carga will host the 2023 FWC in Panama City, Panama.

Freight ‘stowaway’ risks evolving but continue during COVID crisis

The pandemic has changed the dynamics of migrant smuggling along with freight markets, but as restrictions on movement begin to ease, migration activity and its costs to logistics operators could escalate, warns international freight insurer TT Club.

Opponents rally at news that EC consortia BER could be re-evaluated next year

Opponents of the EC’s recent decision to allow the liner shipping industry to continue to enjoy its exemption from antitrust consortia regulation until 2024, will not have to wait long to again voice their opposition.

Potential to extend payment period for Customs/Import VAT Duty due in 15 Jun

Duty Deferment Account holders who are experiencing severe financial difficulties as a result of the COVID-19 measures in place, and who are unable to make payment of deferred customs duties and import VAT due on 15 June, can contact HMRC for approval to an arrangement for extended period for making full or partial payment without having their guarantee called upon or their account suspended.

Air Cargo Capacity Crunch: Demand Plummets but Capacity Disappears Even Faster

The International Air Transport Association (IATA) released data for global air freight markets in April showing that demand dropped 27.7% compared to the same period in 2019 - the sharpest fall ever recorded. Still, there was insufficient capacity to meet demand as a result of the loss of belly cargo operations on passenger aircraft.

TAPA warns of a significant spike in cargo thefts as criminals get back to 'business as usual'

Manufacturers and logistics service providers must be prepared to protect their supply chains from a projected significant spike in cargo thefts as coronavirus lockdowns begin to be lifted across the Europe, Middle East and Africa (EMEA) region, the Transported Asset Protection Association (TAPA) has warned.

Update to Coronavirus Job Retention Scheme and Coronavirus Large Business Interruption Loan

On Friday (29 May 2020) the Chancellor announced changes to the Coronavirus Job Retention Scheme, commonly known as the furlough scheme.

Reinventing inventory strategies could lead to spike in warehousing demand

Received wisdom suggests that one impact of the Covid-19 pandemic is that companies are giving series consideration to their inventory strategies going forwards.

24% jump in companies asking their suppliers for environmental transparency

CDP Worldwide has recently announced that there has been a 24% jump in the number of companies asking their suppliers to report environmental data this year.