Newsletter – February 5, 2018
OCEAN FREIGHT UPDATES
Montreal Port Authority expansion project underway to compete with U.S.
Montreal, QC – The Montreal Port Authority says it has crossed a key milestone in its plans to grow its container handling capacity in order to stay competitive with large American ports. The authority says it has submitted its plans…read more here.
Japan’s ONE unveils full global network
The Ocean Network Express, or ONE — the new Japanese carrier comprising NYK, MOL and K Line — has revealed the remainder of its global service offering as it gears up for its April launch. Read more here.
New CMA CGM flagship so efficient it can save $20,000 every sailing day
The CMA CGM Antoine De Saint Exupery, delivered on Friday, will burn 25% less fuel due to its technologically advanced engine and optimised water distribution propeller system, it is claimed.
The new 20,600 teu flagship of the French carrier was constructed by Hanjin Heavy Industries and Construction (HHIC) in the Philippines and is the largest ship ever built in the country. Read more here (login required).
Engine room fire hurts 3, sets 6,350-TEU Singapore MOL ship adrift off BC
THREE crewmen were injured in an engine room fire aboard the 6,350-TEU MOL Prestige off the coast of British Columbia, setting the Singapore-flagged vessel adrift south west of Prince Rupert. Read more here.
Oakland seeks to be first port of call on US west coast
OAKLAND port executive director Chris Lytle is making the pitch that his San Francisco Bay harbour should be the first port of call on the west coast for transpacific ships.
“The port has been approached by three carriers, raising the possibility of Oakland becoming the first US Pacific Coast port of call,” he told the American Journal of Transportation.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Pakistan Reverses Course and Withdraws Import Taxes on Cotton
Trying to balance demands from importers and domestic manufacturers, and keep a handle on supply and demand issues, Pakistan’s Federal Board of Revenue has repealed a 5 percent tax and a 4 percent customs duty on cotton imports.
The government order, relevant to imports of raw and ginned cotton, is retroactive to Jan. 8 and should help curb costs for spinners that use imported material. Read more here (login required).