Wan Hai joins box shipping 'arms race', but avoids Chinese yards for newbuilds - The Loadstar

Fallout from the US-China tariff war is not stopping the container shipping 'arms race', as major shipping lines continue to invest heavily in large box ships. Yesterday, Taiwan's Wan Hai Lines ordered four 16,000 teu containerships in deals valued at around $800m. Two will be built by HD Hyundai Samho and two by Samsung Heavy Industries, both South Korean shipbuilders. The order underscores Wan Hai's strategy to modernise and expand its fleet with larger, fuel-efficient ...

Cargojet revenues rise as it looks ahead to a tarrif-related boost

Canada-based Cargojet reported revenue and profit increases in the first quarter of the year and is optimistic for the coming months as a result of the implementation of tariffs. The freighter operator reported an 8.1% year-on-year increase in first quarter revenues to a record C$249.9m, earnings before interest and tax (ebit) improved by 32.7% to C$49.9m and net profits were up 47.7% to C$48m. The airline reported revenue increases across its domestic network and charter business while ACMI takings were down. The improvement in its domestic network was due to an increase in e-commerce and B2B volumes during the period, and contractual customers' consumer price index increases. Its charter business improved primarily because of scheduled charter services starting between China and Canada in the second quarter of 2024, as well as an increase in ad hoc charters. The company said that trade barriers as a result of the imposition of tariffs by the US and Canada started to have an impact on the market in the second quarter, but the company was hopeful the levies may actually present an opportunity. "[The second quarter] saw trade barriers materialise, triggering volatility across global markets, elevated bond yields, and fluctuations in oil prices amid weaker economic outlooks. "Despite these challenges, Cargojet remains cautiously optimistic in its ability to maintain revenue and volumes with minimal disruption. "While the future trade-flow lanes remain highly uncertain, importers in our domestic market will need to bring the product directly into Canada rather than routing through previous optimal points within North America, potentially providing a tailwind to growth." Cargojet co-chief executive Jamie Porteous said: "With the backdrop of trade wars and expected de-coupling of North American supply chains, more cargo is expected to enter Canada directly from the rest of the world to mitigate the uncertainty of tariffs. "These results demonstrate the unique and complementary structure of our various revenue segments. We continue to identify new opportunities and remain at the forefront of helping customers adjust to new global supply chains." Cargojet operates a fleet of 41 Boeing aircraft - 24 767s and 17 757s - for customers such as Amazon, DHL Express, FedEx and other logistics providers. Canada and Mexico face US tariffs of 25% for goods outside the North American free trade agreement, while the US also has a 25% tariff on automobiles. A tariff of the same rate on automobile parts is due to come into force in May. Canada has responded with tariffs of its own.

AGI teams up with Atlantis/ACI on cargo airport trucking

Ground handlers AGI and Atlantis Transportation Services/ACI Air Cargo have launched a new partnership on trucking between airport gateways in North America. Atlantis Transportation Services offers less-than-truckload and full-truckload services between major US gateways, including Miami (MIA), Chicago (ORD), New York (JFK), and Newark (EWR), along with dedicated routes between Montreal (YUL) and Toronto (YYZ). The partnership will see Atlantis leverage AGI's network of airport facilities - it has a presence at 62 airports - as drop stations for domestic and cross-border trucking options for customers. "We are excited to join forces with Atlantis/ACI Cargo to create a streamlined, one-stop solution for cargo handling and transport," said Jared Azcuy, chief executive of AGI. "Our synergies support critical hubs for global trade, and this partnership ensures our airline and freight forwarding partners receive the highest level of operational excellence and support." This partnership follows AGI's recent cargo warehouse award at Toronto Pearson International Airport (YYZ). "Combining AGI's ramp and warehouse expertise with ACI's freight handling capabilities, the partnership sets a new standard for efficiency, reliability, and customer service," the two firms said in a press release. Sylvain Lacelle, vice president of ACI Air Cargo, added: "By combining ramp, cargo handling, and integrated trucking services under one umbrella, we offer customers a seamless experience with greater flexibility and reduced overhead. "It's a smart, forward-thinking approach that reflects where the industry is headed -- streamlined, strategic, and customer-focused."