Newsletter – June 12, 2019
AIR FREIGHT UPDATES
Leisure Cargo files for insolvency after loss of major contractstheloadstar.comLeisure Cargo (LC) is to enter insolvency following the loss of contracts with TUI and another carrier. Read more here (login required).
OCEAN FREIGHT UPDATES
ILWU-Canada Ratification Process: Tentative Stop Work Meeting on June 19ciffa.comThe British Columbia Maritime Employers Association (BCMEA) issued an update on June 10 to advise that all International Longshore and Warehouse Union – Canada Locals (500, 502, 505, 508 and 519) have tentatively scheduled a stop work meeting for the day shift on Wednesday, June 19, as part of the ratification process for the new tentative collective agreement.The June 19 day shift meeting will not interfere with employees carrying out necessary duties, such as those performed by maintenance employees (for emergencies), lines employees or employees servicing regularly scheduled coastwise vessels.Further information regarding official confirmation of this meeting will be distributed on June 13.
Ever-growing size of ships prompts concerns among marine insurersseanews.com.trCONTAINERSHIPS have increased in capacity more than tenfold in the last 50 years, and risks have risen proportionally, according to insurer Allianz’s 2019 Safety and Shipping Review. Read more here.
Cosco containership runs aground in Qinzhousplash247.com
GROUND FREIGHT UPDATES
CP celebrates the official opening of Vancouver Automotive Compoundcanadianshipper.comVancouver, BC — Canadian Pacific is using its strategic land holdings to support sustainable, profitable growth and alleviate capacity and congestion issues for automakers shipping to and from Vancouver with the opening of its new Vancouver Automotive Compound (VAC). Read more here.
Headwinds loom for trucking and constructionfreightwaves.comAs capacity continues to increase in the trucking industry against the backdrop of record levels of new truck and trailer orders in late 2018, outbound tender volumes are only down 3.96 percent year-over-year, setting up an interesting scenario heading into the all-important summer construction season. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Chinese Exporters Dodge Tariffs With Fake Made-in-Vietnam Labelsajot.comVietnam said on Sunday that it found dozens of fake product-origin certificates and illegal transfers by companies trying to sidestep U.S. tariffs on everything from agriculture to textiles and steel. It was one of the first times an Asian government has publicly alleged such misbehavior since trade tensions between the world’s two biggest economies escalated this year. Read more here.
2019 Update: Trade wars and economic downturns among top supply chain risksfreightwaves.comTrade war possibilities between the U.S. and China, skirmishes regarding border control between the U.S. and Mexico, the Brexit situation, a volatile oil market and China on the precipice of an economic downturn – international commerce is contending with many risks this year. FreightWaves spoke with Shehrina Kamal, the director of risk intelligence at Resilience360, a supply chain risk management firm, to discuss the primary risks that global supply chains need to be wary of going forward. Read more here.