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16 • CARIBBEAN TODAY • MARCH 2022
SPRING CARGO
Caribbean Airlines Cargo Expands Its Reach
Notwithstanding the challenges presented by the pandemic, over the last two years, Caribbean Airline’s cargo business has expanded exponentially, owing to the efforts of its hardworking team members, strategic partnerships and investment in technology to improve efficiency and enhance the customer experience. This upward trajectory and consistent growth prompted the carrier to bolster its weekly freighter volume by 400,000 pounds in 2021. In May of the same year, Caribbean Airlines Cargo introduced additional Boeing 767 freighter flights augmenting capacity between Miami and Trinidad as well as Miami and Kingston. Growth has been recorded on all freighter destinations which also includes Guyana and Barbados. The airline also resumed cargo services in the belly hold of its Boeing 737 and ATR passenger aircraft in July 2021, following the reopening of borders at its base in Trinidad and Tobago. Now, customers can transport cargo to more destinations including Antigua, Grenada, Nassau, St. Lucia, St. Maarten, St. Vincent and the newest addition, Dominica. Technology continues to play a critical role in bolstering the carrier’s cargo business. Through partnerships with
Caribbean Airlines Cargo’s fleet comprises of ATR72-600 aircraft, Boeing 737-NGs and 737-8 jets and 767 freighters.
digital solution providers, the airline is working towards improving its processes, offering a more tailored and streamlined approach to customer’s shipping requirements , accessing additional distribution channels, leveraging sales and much more. For 2022, Caribbean Airlines is on a mission to reset expectations. This means that its customers and valued stakeholders can look forward to even more value-added products and services to serve and satisfy everyone’s shipping needs. Caribbean Airlines Cargo has expanded its reach to better
serve its customers and may just be the ideal answer to your shipping needs. The airline provides air cargo services connecting North America, Europe, Asia and scores of destinations worldwide to the Caribbean, making shipping easier, affordable and more convenient. Caribbean Airlines Cargo’s fleet comprises of ATR72-600 aircraft, Boeing 737-NGs and 737-8 jets and 767 freighters. The airline’s freighters have a capacity of up to 120,000 pounds per flight.
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USGC To Caribbean Clean Freight Hits 2022 High
Clean freight rate loading on the US Gulf Coast to the Caribbean has already reached the highest level in 2022, as traders rushed to fill a high-demand spot market after waiting out a tricky February month roll that favoured short-haul trips to ballast ships back to the Gulf Coast quickly for fresh cargo. Freight rates loading on the USGC en route to the Caribbean for Medium Range tankers rose $75,000 Feb. 25th to a lump sum of $800,000, up roughly 22% from the start of 2022. At least 10 product cargoes were fixed throughout the last week of February from the Gulf Coast to the Caribbean: The Aquasmeralda for Trafigura, Velebit and Eurosailor for Marathon, Essie C for Valero, Agioi Fanendes for Chevron, Stena Impulse for ST, and Alpine Link and another ship to be nominated for Exxon, sources told S&P Global Platts. The Bastille Street and UACC Ras Laffan were also fixed, with the charter not reported. “Bunkers are moving higher, folks are looking for longer haul runs right now, so they are going to have to price in an incentive,” said a shipowner to S&P Global Platts, emphasizing the need for quick trips to ballast tankers back to the USGC. A Latin America products trader said that the availability of
ships coincided with a changing market structure and high demand from countries, such as Jamaica and Colombia, which usually exports diesel but had to import due to refinery issues. “The issue here was the massive backwardation in the market. We all waited until endFebruary ... to load cargoes,” he said. “All the Caribbean is dry. We all had positions trying to clean inventories and avoid the roll, so everyone and their aunt was loading cargoes. Besides, Colombia brought more in for March due to refinery issues.” Tonnage was noticeably tight for mid-February dates for prompt Medium Range tankers, with roughly three to five ships available Feb. 17 for immediate load out of the US Gulf Coast. More availability picked up later, with nine to 11 ships available to load in the prompt window for Feb. 22. The Latin America product market was shifting from the tender process to the fixing process. Traders said during the week that tender markets finally hit a lull, with global tensions adding to reduced seasonal demand, the passing of a major wave of tenders, and rising prices for cost-sensitive consumers in the region. - S&P Global Platts
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