Newsletter – February 25, 2020
OCEAN FREIGHT UPDATES
Threat of more Lake Ontario flooding may prompt a delay in commercial shippingdemocratandchronicle.comThe prospect of still more flooding on the Lake Ontario shoreline has driven regulators to consider an unprecedented delay in the start of the commercial shipping season.An international board could vote as soon as Friday to ramp up the release of water from Lake Ontario to such an extreme rate that safe navigation on the St. Lawrence River would become impossible. Read more here.
Carriers That Invested in Scrubbers May Find the Cost Higher Than Expectedgcaptain.comBy Gavin van Marle – Shipping lines that have invested in scrubber technology to comply with the IMO 2020 low-sulphur regulations may be forced to reconsider the wisdom of their investment, as fuel producers appear to be looking for ways to push prices up. Read more here.
DP World acquires Fraser Surrey Docksdpworld.comDP World, the leading enabler of global trade, and one of the world’s largest port operators, announced today it has completed the acquisition of Fraser Surrey Docks from Macquarie Infrastructure Partners (MIP) alongside its partner Caisse de dépôt et placement du Québec (CDPQ). Read more here.
GROUND AND RAIL FREIGHT UPDATES
Coronavirus: Container truck drivers returning to Ningbo portlloydsloadinglist.comContainer truck drivers are quickly returning to Ningbo, home to the world’s third-busiest box port, following policy support to help unclog the port traffic amid the fallout from coronavirus. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Coronavirus hitting labour-intensive electronics and auto sectors hardesttheloadstar.comChina’s extended factory and transport shutdown is still seriously impacting global supply chains, with forwarders grappling with resulting cashflow constraints.According to Taiwan-based market intelligence firm TrendForce, the coronavirus fallout has had the biggest impact on the consumer electronics and automobile industries. Read more here.