In today’s article, we have made a compilation of the top news from the transportation and logistics industry to keep you informed about the latest trends, developments, and innovations in the sector. This knowledge can help you stay ahead of the competition, be updated with the latest trends, and identify potential risks and take proactive steps to mitigate them. Keep reading to get an idea of all the newsworthy events in the logistics industry in the past few months.
The news making waves in the international transportation and logistics industry
A new cargo airline One Air has started operations in the UK
One Air which was created to meet the demand for air cargo services is operating freighters from the UK to countries in the Middle East, Europe, and Asia. Additionally, they will soon commence air freight services to the USA and China. Presently, they are the only all-cargo company to run a B747 freighter in the UK. With a team of 40 aircrews with pilots recruited from major carriers across the world, One Air is all set to “leverage longstanding business relationships with freight forwarders, logistics providers, and charter brokers serving the UK market,” according to CEO Paul Bennett.
FedEx closes 29 locations and discharges many workers in the face of declining demand
American multinational LTL specialist Fed Ex is shutting down 29 units and furloughing several workers in a bid to cut their expenses. With over 400 service centres in its network, FedEx still hasn’t announced the locations that will be affected by their new decisions. The decision to cut costs and streamline their network has come at a time when the revenue of their freight unit has gone down by 3% as compared to last year. Moreover, the average daily cargo volume of FedEx has also dropped by 12%.
According to a statement by the company, “We continuously review our network to ensure we have the right design to address changing market dynamics…Through that process, we identified opportunities to consolidate operations in several locations to improve customer service levels and improve efficiencies with fewer touchpoints, while lowering our cost to serve.”
Silk Way West Airlines ships 100 yaks as a part of a wildlife reintroduction project
Silk Way West Airlines carried this curious cargo for a distance of over 2,000 Km from Kyrgyzstan to Azerbaijan. According to a statement by the airline, the loadmaster’s previous experience with transporting animals allowed them to safely deliver the yaks by flight and subsequently transport them by trucks from the airport to the pasture lands. To quote their Vice President, “We are proud to be involved in projects like this, contributing to the preservation of a sustainable and biodiverse environment worldwide.” The yaks were transported in special cages in an air-conditioned and ventilated environment and remained under the supervision of a vet during the entire duration of their journey.
Oil tanker registered with Gabon catches fire near Malaysia
An oil tanker that caught fire near Malaysia has three missing crew members. The tanker that was destined for Singapore from China had 28 members on board when it caught fire at around 4 pm Malaysian time on the 1st of May. The Malaysian Maritime Enforcement Agency has dispatched a patrol ship to the spot to bring the situation under control. Additionally, 23 of the crew members were saved by two vessels in the vicinity. Authorities are still trying to trace the three missing members of the ship. The ecological impact of this event has still not been ascertained.
£55 Million investment by the Port of Aberdeen to become the first net zero port in the UK
The Port of Aberdeen aims to achieve zero emissions from all vessels entering the port and from their operations by 2040. To this end, they have committed to invest 55 million pounds in the course of the next ten years. This ambitious plan of the port’s net zero endeavour hinges on collaboration between all the stakeholders of the maritime sector by facilitating the use of low-carbon fuels. “Strong partnerships and investment across the public and private sectors are essential to deliver this transformational change which will deliver significant benefits for the environment, local communities, and wider maritime sector,” says the Chief Executive of the Port of Aberdeen.
A landmark green methanol powered vessel to be welcomed by Maersk in Fall 2023
In fall 2023, Maersk will welcome a green methanol ship that is going to be one of the most important developments in the history of the transportation and logistics industry. Maersk will celebrate this event with weeklong festivities that will continue from the 18th to the 21st of September in Copenhagen, Denmark. The ship will halt in Copenhagen outside the headquarters of Maersk before commencing its journey to the Baltic Sea. The vessel is going to be a game-changer in the sea freight sector as it operates on a new type of green fuel. Moreover, this vessel will take Maersk a step ahead in its commitment to reduce carbon emissions and operate solely on green fuel. The 172-meter-long ship with a capacity of 2,100 TEU will set sail from Hyundai’s dockyard in Korea and embark on her maiden voyage to Copenhagen.