Newsletter – January 8, 2018
AIR FREIGHT UPDATES
Lanmei Airlines becomes latest addition to AAT
source: Payload Asis
Cambodian based airline, Lanmei Airlines became the first carrier to launch a new air link between Sihanoukvile and Hong. Read more here.
OCEAN FREIGHT UPDATES
Montreal’s port eyes another record year in 2018 for cargo and cruise passengers
source: The Canadian Press
The Port of Montreal started 2018 with hopes of another record year for cargo traffic as the Canadian free trade agreement with Europe begins to bear fruit. Canada’s second-largest port anticipates cargo traffic increasing about four per cent after ending 2017 up almost seven per cent Read more here.
DP World first terminal operator to handle 50 million TEU in India
source: Shipping Online CN
DP World Indian Subcontinent has become the first container port operator in India to handle a total of 50 million TEU across its terminals in 2017. DP World has invested in the development of five international gateway ports in India since it commenced terminal operations in the country in 1999, starting with its Nhava Sheva International Container Terminal (NSICT). Nowadays the company handles 30 per cent of India’s container trade. Read more here.
GROUND AND RAIL FREIGHT UPDATES
NAFTA uncertainty presents risk for Canadian railways, says analysts
source: The Canadian Shipper
Montreal, QC — The potential dismantling of the North American Free Trade Agreement poses the biggest risk to Canada’s railways not benefiting this year from healthy economies and higher demand to move crude oil, say industry observers. “What keeps us” Read more here.
CANADIAN BUSINESS – GOVERNMENT UPDATES
Canada Deepens Ties with Pacific Alliance
source: The Canadian Trade Commissioner Service
As one of the first countries invited to become an Associated State of the Pacific Alliance, Canada is gearing up for talks in Australia this month to negotiate a free trade agreement with Alliance members as a bloc.
The Pacific Alliance is a regional integration initiative created in 2011 by Chile, Colombia, Mexico and Peru. The Alliance’s overarching goals are to foster the free movement of goods, services, capital and people and to promote greater competitiveness and economic growth for member countries. In June 2017, Canada was among the first countries invited to become an Associated State of the Pacific Alliance, along with Australia, New Zealand and Singapore.
This process requires the negotiation of a free trade agreement with the Pacific Alliance as a bloc. With a combined GDP of almost $2.3 trillion, and more than 220 million inhabitants, the Pacific Alliance constitutes an important market for Canada.
Developing closer ties with the Pacific Alliance in general, is a move welcomed by members of the Canadian business community, and the launch of talks to become an Associated State is viewed as an important milestone by many. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
DP World invests over $1 billion in 2017
source: The Canadian Shipper
Dubai, United Arab Emirates — Growing global trade opportunities, diversifying its business across the supply chain and exploring smart innovation technologies were key strands of DP World’s operations in 2017 which included over USD $1 billion in capital expenditure. Read more here.