Jawaharlal Nehru Customs House (JNCH) along with BCBA organised an Open House and interactive session to discuss EXIM trade issues. The session was organised for members and stakeholders of the trade regarding imports and exports related issues on December 28, 2023. JNCH gave a presentation on upcoming TRS Time Release Study 2024. Sanjeev Harale, Senior Vice President, BCBA gave the welcome address all the dignitaries present. Akshay Patil, Deputy Commissioner of Customs, gave a comprehensive slide show presentation on the Time Release Study and explained in detail its important points in establishing the predictability in the release of export and import goods. A detailed presentation was presented by BCBA an insight on the TRS Facilitation measures to improve the process and timeline for clearance of Import and Export Cargo. During his address by Chief Comm. of Customs, Rajesh Pandey elaborated the gathering about the trade facilitation measures and initiatives taken by JNCH for facilitation of trade. Other dignitaries were commissioners of Customs, Zone II and trade and senior officers from trade bodies. Sanjeev Kumar Singh – Commissioner of Customs (NS-II), Mumbai Zone II, JN Customs, Ashwini Kumar – Commissioner (Nhava Sheva –III), Mumbai Zone-II, JN Customs, Sonal Bajaj – Commissioner of Customs, NS – V, Mumbai Zone II, JN Customs were also present at the interactive session. The session concluded with vote of thanks to the chair by Ganpat Korade, Hon. Treasurer, BCBA, He thanked the presence of Customs officials, Customs Brokers, and trade on the occasion.

Chennai-based supply chain startup Wiz Freight has raised INR 93.3 Cr (around $11.2 Mn) as part of its Series B funding round. Led by Japan-based SBI Investments, the round also saw participation from Tiger Global, Nippon Express Fund, Axilor Technologies Fund, Arali Investments and Unikon Shipping Ventures. According to an Entrackr report, the startup plans to raise $30 Mn in the Series B round in two tranches of $15 Mn each, at a valuation of $175 Mn. As per the filings, the Wiz Freight board has passed a special resolution to issue 1,790 Series B compulsorily convertible preference shares (CCPS) at an issue price of around INR 5.21 Lakh each. SBI Investments led the round with INR 33.3 Cr while Tiger Global, Nippon Express Fund, and Axilor Technologies Fund pumped in INR 18.71 Cr, INR 16.62 Cr, and INR 10.42 Cr, respectively. Arali and Unikon also participated with INR 14.32 Cr cumulatively.

Avion Express, narrow-body aircraft ACMI operator, has announced the successful integration of an Electronic Technical Log (ETL) system across its fleet. This marks a significant step forward in terms of effectiveness and sustainability for the company, making Avion Express the first airline in Lithuania to completely replace paper logbooks with a state-of-the-art electronic system. Aistis Urbonas, VP Technical of Avion Express, emphasizes that beyond being a sustainable decision, the electronic system has proven essential in several areas where the value is undeniable: contributing to safety, improving reliability reviews, and ensuring effective processes for their team. “This step aligns with our commitment to innovative decisions within the aviation industry, proving to be timely and offering clear value. At Avion Express, we believe that digitalizing is the path to the aviation future, primarily working for the safety of our passengers and the effectiveness of the airline. We constantly search for the most modern solutions in every step of our work.”

Ethiopian Cargo & Logistics Services is adding Casablanca, Morocco to its freighter services. The carrier said in a LinkedIn post on January 4 that it “has finalized preparations to launch freighter services to Casablanca, Morocco”. Ethiopian Cargo added that it will begin operations to Casablanca on January 9. The airline has not specified what aircraft will be used, or the frequency and schedule of the route. Ethiopian Cargo & Logistics Services, operates to more than 60 destinations in Africa. The company carries out the transportation of special cargo like medical products, live animals and perishable products.

Etihad Cargo witnessed growth due to rising e-commerce and electronics demand and the airline is hoping its new relationships covering the sector will help boost performance this year, said Leonard Rodrigues, acting manager director, head of revenue management & network planning, adding that much of the rise in demand from e-commerce and electronics companies was driven by increased volumes of new smartphone models. The airline was able to meet this demand with dedicated freighter charters. “Etihad Cargo reserves freighter availability for these projects so that we have the capability to fully meet demand,” he said in reports. “This combined with our express and e-commerce capabilities, our efficiency in handling this type of cargo and Abu Dhabi’s strategic geographical location makes Abu Dhabi International Airport an ideal hub location for the transit of these charters.” Rodrigues also pointed to Etihad’s recent reciprocal blockspace agreement with Chinese express carrier SF Airlines as an example of how it had partnered with firms to meet demand for e-commerce. The partnership saw Etihad add flights to SF Airlines’ Ezhou hub and therefore improve connectivity with China’s five national-level city clusters and 25 domestic destinations via the airport’s transportation infrastructure, including railway, waterway, expressway and air links.

The Air Cargo Agents Association of India (ACAAI) and Air Cargo Forum India (ACFI) held a meeting with Shri General V K Singh, MoS, Shri Vumlunmang Vualnam, Secretary MoCA and Shri Piyush Srivastava, Senior Economic Advisor at Ministry of Civil Aviation (MoCA) to focus on the issues regarding the eKYC and digital invoice issue. “With uniform eKYC in place, exporters or importers do not need to register at every individual port. Also when the exporter is uploading the invoice for GST, the data should be captured and used by customs so as to reduce the carbon footprint and not using paper, ACAAI and ACFI members raised the concern. The meeting was attended by ACAAI and ACFI members including President, CK Govil, Secretary Vikram Kumar, K S Kunwar, Secretary General, ACFI, Arun Kumar ACFI and Rajiv Khanna ACFI.

Kuehne+Nagel announced the launch of its Book & Claim insetting solution for electric vehicles, making Kuehne+Nagel the first logistics service provider to launch the solution, which previously was limited to low-emission fuels. “Implementing decarbonisation solutions and helping customers achieve their sustainability goals is a key component of Kuehne+Nagel’s Roadmap 2026 Living ESG cornerstone,” says an official release. Kuehne+Nagel launched an insetting solution for hydrotreated vegetable oil (HVO) last October, which is now followed by electric vehicles, the release added. “The first-of-its-kind solution has been tested and validated in cooperation with leading external stakeholders.” Hansjörg Rodi, Member of Management Board responsible for road logistics, Kuehne+Nagel says: “We see battery-electric vehicles (BEVs) as the future to reduce emissions in road freight. Carbon insetting supports the scale-up of low-emission solutions like BEVs and helps to reduce the premium that customers pay for these solutions, thereby supporting the decarbonisation of road transport.”

The peak season surge in air freight rates of the past three months appears to have come to an end according to the latest data from TAC Index, the price reporting agency (PRA) for air freight markets. The overall Baltic Air Freight Index suddenly fell by -20 percent over the two weeks to 1 January, putting it down by -31 percent over the past 12 months. “Like the previous rise in rates, the sudden drop was heavily skewed by falling rates out of China, with every lane tracked from Hong Kong and Shanghai heading lower,” reads the report. The index for outbound Hong Kong routes was down -23 percent over two weeks putting it back in negative territory YoY by -15 percent. Outbound Shanghai fell even more steeply, pushing to a fall YoY of -30 percent. Sources suggested the sudden drop probably reflected a drop in spot market volumes – leaving a higher proportion of business conducted at previously agreed (lower) contract levels. Rates from elsewhere in Asia were not falling so much WoW – and indeed higher on lanes to Europe from Vietnam, Bangkok and India.

Geopolitical uncertainty and unpredictability could fuel demand for air cargo as shippers move to benefit from the stability of services. Figures from data provider Xeneta show that air cargo demand increased by 9% year on year in December – although this is partly a reflection of a weak end to 2022 – while spot rates reached their highest level in nine months of $2.60 per kg and the dynamic load factor increased by 3% to reach 59%. And Xeneta chief airfreight officer Niall van de Wouw said this could mark the start of a new cycle for air cargo, with shippers likely to appreciate stability returning to the market allowing them to “more accurately predict the transportation costs for the products they are selling”. He pointed out the ocean freight market is facing disruption due to attacks in the Red Sea. Van de Wouw said: “There’s still a lot of friction in the global supply chain market and that means there will be opportunities for some sectors. If big ocean carriers are not going through the Red Sea, it might delay a million or more containers, with all the knock-on effects. “And the fact that you don’t know how long this situation will continue means some shippers will pay for the predictability of air cargo to lessen the impact of the current ocean freight disruption.

Kartik Sharma, AI Expert shares, “In 2024, the air cargo industry is poised for a transformative leap with AI at its helm. AI-driven innovations streamline logistics, optimizing routes, and enhancing operational efficiency. Predictive analytics minimize delays, maximizing on-time deliveries. Smart warehouses leverage AI for automated sorting and handling, reducing errors. This synergy of AI and air cargo signifies a promising era of faster, cost-effective, and eco-friendly transport. Embracing this evolution, I am optimistic about AI’s role in propelling the industry forward, revolutionizing global trade and connectivity while fostering a sustainable future for air cargo in 2024 and beyond.”