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IAG Cargo Restarts London to South Korea Service

Supply Chain Brain

IAG Cargo, the cargo division of International Airlines Group has announced a return of its direct service from the United Kingdom to South Korea. A route that was paused due to the pandemic.

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This Week in Logistics News (June 22 – 28)

Logistics Viewpoints

The company said it took a $157 million impairment charge for permanently deactivating the 757 cargo jets along with seven engines. By the end of September, FedEx will no longer be the primary air cargo provider for the U.S. Postal Service after UPS recently won the five-year contract.

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The Coronavirus Is Shattering Traditional Supply Chains

ivalua

In the meantime, Hyundai’s supply-chain radar was able to quickly identify two South Korean wire harness makers who were looking for opportunities to increase production at their own factories in South Korea and elsewhere in Asia, to compensate for disruptions to the Chinese supply chain.

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Panama Canal Drought: Lower Water Levels, Higher Supply Chain Risk

Resilinc

Weight limits have also been adjusted, forcing some ships to unload and transport cargo to the other side of the canal via train—increasing transportation costs. The main countries affected by the drought are China, Japan, South Korea, and the US, as the Panama Canal facilitates 46% of container movement from northeastern Asia to the US.

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100+ Supply Chain Crisis Statistics: Raw Materials, Covid-19, Labor Shortages, and More

ToolsGroup

81% of semiconductor contract manufacturing was based in Taiwan or South Korea in 2020 ( Deloitte Global ), but The United States passed a $52 billion dollar Chips for America Act in an effort to bring the manufacturing of microchips back to the United States. IATA data shows global demand for air cargo markets jumped 3.7%

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Lost at Sea

APICS

One of the world’s biggest shipping companies, South Korea-based Hanjin Shipping, filed for bankruptcy earlier this month, leaving as much as $14 billion worth of cargo floating and manufacturers uncertain, according to The Wall Street Journal.

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The Role of Transshipment in Global Trade

Promptus LLC

It involves moving cargo from one vessel to another, typically when there’s no direct route between the export and import ports. Transshipment plays a key role in global trade.