Newsletter – April 24, 2019
GROUND AND RAIL FREIGHT UPDATES
Container truckers in British Columbia to get rate increase
Container truckers in British Columbia will see their hourly and trip rates increase by 2 percent as part of a package of reforms implemented by the provincial government. Read more here.
CP Rail first quarter profits jump 25 per cent despite winter weather woes
Canadian Pacific Railway Ltd. missed expectations even though its profits surged 25 per cent during the winter quarter despite lower volumes caused by frigid temperatures and heavy snowfall. Read more here.
Expert: Low-sulfur charges could start by October
Ocean carriers could start increasing fuel surcharges as early as Oct. 1 to help pay for the higher cost of low sulfur fuel under a mandate by the International Maritime Organization (IMO) that will take effect Jan. 1, Mohawk Global Logistics Vice President of International Transportation Rich Roche said Tuesday. Read more here.
OCEAN FREIGHT UPDATES
Hapag-Lloyd’s ‘Strategy 2023’ says size mattered – now quality does
GERMAN shipping giant Hapag-Lloyd’s ‘Strategy 2023’ is betting that the shipping sector’s mergers and acquisitions blitz is over and quality – not size – will be the company’s immediate focus. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
CBRE: Warehouse supply, demand in line
The so-called availability rate for U.S. industrial real estate was essentially unchanged in the first quarter as demand for warehouses roughly matched the delivery of newly constructed supply, according to a report published Thursday by commercial real estate giant CBRE. Read more here.