NEWS\\\


Issue 8 2017 - FBJNA


7


2,000th Neopanamax vessel transits Canal


Global air freight sees double digit growth in July


The Panama Canal welcomed its 2,000th Neopanamax vessel through the waterway on September 26. The COSCO Yantian containership completed the milestone transit through the Expanded Canal traveling northbound from the Pacific to the Atlantic Ocean. The vessel measures 351 meters in length and 43 meters in beam, with a total TEU allowance (TTA) of 9,504. The COSCO Yantian is


deployed on the Pacific East Coast 2 (PEX2) service, which operates between Asia and the Caribbean via the Panama Canal. The 2,000th transit marks


another step forward for the


Expanded Canal, which has served a number of vessel segments since its opening in June 2016, including containerships, liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carries—a new segment for the waterway. At 54%, the container segment


accounts for more than half of the transits through the Expanded Canal, while LPG and LNG vessels represent 29.2 and 8.6%, respectively. Bulk carriers, tankers, car carriers and cruise ships have also transited the Expanded Canal.


The International Air Transport Association (IATA) released data in September indicating that demand for global air freight increased by 11.4% in July 2017 compared to the same period a year ago. This was the fourth time in five months that double-digit annual growth was recorded. July’s year-on-year increase in demand is nearly four times higher than the ten year average growth rate of 3.1%.


“July was a strong month for air


cargo with double-digit growth. And for the third consecutive month demand for air freight grew at a faster pace than demand for air travel. While the outlook for the rest of the year remains positive, there are signs that the cyclical growth period may be nearing a peak,” said Alexandre de Juniac, IATA’s Director General and CEO. Freight capacity, measured in


available freight tonne kilometers (AFTKs),


grew by 3.7% year-


on-year in July 2017. Demand growth continues to significantly outstrip capacity growth, which is positive for airline yields and the industry’s financial performance. The


robust growth in air


cargo demand is consistent with an uptick in global trade, rising export orders and upbeat business confidence indicators. There are, however,


demand growth for air freight may be nearing a peak. Seasonally-adjusted air freight


signs that


volumes were flat in June and fell in July; and the global inventory- to-sales ratio has stabilized. Air cargo oſten sees a boost in demand at the beginning of an economic upturn as companies look to restock inventories quickly. This tapers as inventories are adjusted to new demand levels.


Ribbon cut on Duluth Intermodal Terminal


CN, Duluth Cargo Connect


hosted the Duluth Intermodal Terminal Ribbon-Cutting event Sept. 20. CN and Duluth Cargo Connect announced a new alliance in late March to establish the first rail-served intermodal container ramp in


the Twin Ports. Loaded containers from


ports originating on all three coasts served by Canadian National Railroad will arrive at Clure Public Marine Terminal in Duluth via CN’s network. The containers then can be


used by Twin Ports exporters as storage vessels in which they ship their goods to world markets. CN serves the ports of


Prince Rupert and Vancouver on the West Coast, Montreal and Halifax on the East Coast


and New Orleans and Mobile on the Gulf Coast. Duluth Cargo Connect, a partnership of the Duluth Seaway Port Authority and Lake Superior Warehousing, operates the rail facility at Clure Public Marine Terminal.


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