Newsletter – April 2, 2018
OCEAN FREIGHT UPDATESCharter market capacity crunch will put a dent in carrier profitabilitysource: theloadstar.co.ukContainership charter rates are at a 30-month high on the back of strong demand, and Alphaliner is predicting an “impending capacity crunch”.This will come in most vessel sizes as carriers return to full sailings after the Chinese new year, it says. Read more here (login required).
Yang Ming back in black with US$10.78 million profit after $511 million losssource: shippingazette.comTAIWAN’s Yang Ming Marine Transport’s (YMM) reversed itself out of a 2016 net loss of TWD14.9 billion (US$511 million) with a 2017 net profit of TWD320 million (US$10.78 million), drawn on revenues of TWD131 billion, up 13.6 per cent year on year. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATESInvestment outflow from Canada already underway in ‘real time’: RBC headsource: canadianshipper.comOttawa, ON — The head of one of Canada’s largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it’s already leaving in “real time.” Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATESAmazon loses US$54 billion in market value after Donald Trump ‘threatened to go after it’source: scmp.comAmazon shares fell as much as 7.4 per cent on Wednesday, wiping about US$53.6 billion from its market value after US President Donald Trump reportedly indicated he wanted to rein in the US tech giant. Read more here.
Trade wars could return us to the days of the Depression, governments warnedsource: theloadstar.co.ukShippers have called on world governments to back away from trade wars that threaten the global economy.But despite the current protectionist tendencies, a report out today shows that the outlook for world trade continues to improve. Read more here (login required)
HAFFA chairman warns forwarders of hurdles facing logistics sectorsource: shippingazette.comCHAIRMAN Brian Wu of the Hong Kong Association of Freight Forwarding and Logistics (HAFFA) has sounded a warning that the industry will continue to confront a number of major issues. Read more here.