Newsletter – April 2, 2019
OCEAN FREIGHT UPDATES
IMO 2020 rules ‘unlikely to damage box line competition’
Incoming low-sulphur fuel laws could accelerate container line consolidation, with the extra costs associated with the so-called IMO 2020 pushing financially vulnerable carriers into mergers and acquisitions (M&A), container shipping analyst Drewry has reported. But Drewry concludes that even if the new IMO 2020 laws spur another round of mergers, there will still be enough carriers left for the main markets to remain competitive. Read more here.
Shippers angry at ‘no news’ on availability of Yantian Express cargo
Shippers are facing further confusion over the fate of cargo aboard the fire-stricken Yantian Express after an update revealed “no change”. Read more here.
Another box line bankruptcy looming as IMO 2020 costs mount up?
Rising demand and improved freight rates in the second half of last year enabled ocean carriers to return a consolidated profit of $1.5bn for the year, according to Drewry’s latest Container Forecaster report. Read more here.
Two HK shipping lines hacked within five minutes of ‘casual’ online browsing
Shipping’s poor cyber defences have been displayed once again with news two Hong Kong shipping lines had their passwords hacked easily. Read more here.
GROUND AND RAIL FREIGHT UPDATES
CN plans to boost Ontario’s rail infrastucture with $320M investment
Toronto, ON — CN announced plans to invest approximately $320 million in Ontario in 2019 to expand and strengthen the company’s rail network across the province. Read more here.