Newsletter – February 12, 2018
OCEAN FREIGHT UPDATESBox shipping lines earn US$7 billion in 2017, outlook looks brighter for 2018source: shippingazette.comCONTAINER shipping lines worldwide are estimated to have collectively earned US$7 billion last year, and Drewry forecasts 2018’s results may be even better.In its latest Container Market Outlook & Freight Rate Trend, Drewry says it expects ongoing volume growth in every region. As a result, it has revised upwards its forecast for 2018 from an annualised growth rate of 3.6 per cent to 4.3 per cent, reported UK’s The Loadstar. Read more here.
ONE launches Asia-South America services with Hapag Lloyd, MSC and HMMsource: shippingazette.comOCEAN Network Express (ONE) that combines the container shipping businesses of Japan’s “K” Line, NYK and MOL has announced it’s joined Hapag Lloyd, Mediterranean Shipping Co (MSC) and Hyundai Merchant Marine (HMM) to provide three new services connecting major Asia ports with the west coast of Mexico, Central America and South America. Read more here.
GROUND AND RAIL FREIGHT UPDATESThe U.S. Is Going to Run Short of Truck Driverssource: ajot.comEconomists debate how close the U.S. is to full employment, but less often discussed is where the most crucial constraints are in the labor market.
If we have a shortage of line cooks, the economy can adapt without even adding any new line cooks: The wages for existing line cooks would rise, and dining out would become more expensive, inducing some consumers to eat at home instead. Read more here.
Truck Strike in Argentina Causes Logjam at Rosariosource: splash247.com
A truck owner’s strike in Argentina has halted unloading of commodities at various termninals and has caused a logjame of dozens of vessels waiting to load cargo in the port of Rosario, according to Reuters. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATESIn US swing, Trudeau mixes job deals with defence of NAFTAsource: canadianshipper.comLos Angeles, CA — Canadian Prime Minister Justin Trudeau came with an unambiguous message on his latest US visit: the North American Free Trade Agreement is a success that needs to be modernized, not abandoned. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATESChina-EU customs clearance pilot programme expands from ocean to air freightsource: transportweekly.comUnder the World Customs Organization (WCO) programme designed to accelerate and secure customs procedures between the European Union and its trading partners, the first air freight shipment from China has been cleared through Amsterdam Airport Schiphol. Read more here.