BIFA News
Ian Matheson, from Impress Communications, reviews some recent news that might impact on Members’ business
soft summer season. This was powered by the unrelenting strength of e-commerce fulfilment from China and shippers pulling forward orders for the winter holidays to protect against rising costs, capacity shortages and worsening ocean shipping delays. Sustainable aviation fuel production is on track to triple from 2023 levels to 1.9 billion litres this year, which IATA said would account for a little more Despite total air cargo volumes that are expected to reach 62 million tonnes in 2024, a report from IATA says air cargo revenues are expected to fall to USD120billion in 2024, down from USD138 billion in 2023. OVERLAND DP World is encouraging freight owners to move their products by rail from Southampton and aiming for a 40% rail freight share in 2026. Its Modal Shift Programme at the port, which encourages freight owners to transport their import containers by rail to a railhead within 140 miles of the logistics hub rather than by road, will now be extended until the end of next year. CUSTOMS AND BORDER MATTERS June saw US Customs and Border Protection cracking down on shippers that import goods into the country under a regulation protecting imports valued less than USD800 from duty and tax obligations — and suspended several Customs brokers until they comply with the new regulations. ON THE QUAYSIDE than 0.5 of 1 percent of aviation’s total 2024 fuel needs. According to the latest global Container Port Performance Index, Yangshan Port was the world’s most efficient port in 2023, with 12 others in East and Southeast Asia in the top 20.
Reporting of containers lost at sea to become mandatory
ON THE OCEAN The World Shipping Council has welcomed the recent adoption of amendments to the International Convention for the Safety of Life at Sea (SOLAS) by the IMO’s Maritime Safety Committee (MSC 108),
which will require mandatory reporting of all containers lost at sea from 1 January 2026. As port congestion and a surge in demand pile on top of Red Sea diversions, analysts believe container shipping
rates could repeat record levels seen in the pandemic. However, they cautioned that we may be seeing a very early peak season and the demand boom may abate by July, which is adding uncertainty to the situation. The World Shipping Council has released its annual report on containers lost at sea, with a total of 221 containers lost out of around 250 million transported, the lowest number since the survey (which covers shipping companies that account for more than 90% of the global containership capacity) began in 2008. IN BUSINESS In a business manifesto published at the start of June and shaped by input from over 400 business leaders and 70 trade associations, the CBI urged the next UK government to ease trade frictions to help spur growth by increasing UK exports, securing imports and growing investment, to maximise the UK’s competitive advantage, growth and productivity, and boost employment. IN THE AIR Writing in mid-June, demand and rates for airfreight transportation were continuing to soar through the normally
With customs offices on both sides of the Channel, we offer a streamlined end-to-end service with a single instruction.
4 | July 2024
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