Newsletter – July 20, 2018
AIR FREIGHT UPDATES
Designer freighters with no pilots may become a reality, says Boeing strategy chief
Developments in technology and demand for freight capacity is enhancing the prospects of aircraft being designed solely to carry cargo.
Boeing VP for product strategy and future airplane development Mike Sinnett told attendees at the Farnborough International Airshow that cargo-specific aircraft designs could become a reality. Read more here (login required).
GROUND AND RAIL FREIGHT UPDATES
Canadian Pacific profit off 13.9pc, but sales up 5.2pc amid labour peace
THE Canadian Pacific Railway (CP) posted a 13.9 per cent year-on-year decline in first half net profit to C$784 million (US$595 million) drawn on revenues of C$3.41 billion, up 5.2 per cent year on year.
Second quarter net profit came in at C$436 million, a decline of 9.1 per cent year on year, drawn on revenues of C$1.75 billion, an increase of 6.5 per cent. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
The Port of Montreal and the Fonds de solidarité FTQ team up to attract businesses to the Port’s logistics chain: $100 million for new projects
MONTREAL, July 18, 2018 /CNW Telbec/ – The Montreal Port Authority (the MPA) and the Fonds de solidarité FTQ (the Fonds) announced today that they have signed an agreement to create the Partenariat de financement logistique Fonds de solidarité FTQ – Port de Montréal (the Fonds de solidarité FTQ – Port of Montreal logistics financing partnership), making $100 million available to companies with a development project in Greater Montreal connected with the Port’s logistics chain. Read more here.
Trudeau cabinet shuffle brings new faces, several changes for run-up to 2019 campaign
Prime Minister Justin Trudeau has made significant changes to his cabinet, bringing five new ministers to the table and creating new portfolios for seniors, intergovernmental affairs and border security.
The retooled cabinet signals the government’s intent to ease trade dependence on the U.S., address concerns about border control, and bolster political forces in key regions in the run-up to next year’s federal election. Read more here.