Newsletter – June 3, 2019
AIR FREIGHT UPDATES
Trump trade tensions squeeze airline profits
Trade tensions between US and China are hitting global air cargo business, contributing to a fall in airline profits, warns IATA. Read more here.
OCEAN FREIGHT UPDATES
After a lacklustre first quarter, the second three months could be even worse for container lines
With the second quarter now two-thirds done ocean carriers look to be heading for a second successive H1 loss, making a good peak season more essential than ever for the sustainability of the liner industry. Read more here.
China looks to restructure Pearl River Delta ports at Hong Kong’s expense
BEIJING is looking to restructure the three ports in the Pearl River Delta focusing on transshipment and imports into the mainland with Guangzhou concentrating on domestic cargo and Shenzhen on exports and imports. Read more here.
GROUND AND RAIL FREIGHT UPDATES
CP and Yang Ming sign long-term agreement
Calgary, AB — Canadian Pacific Railway and Yang Ming Marine Transport announced a three-year agreement to safely and efficiently connect Yang Ming customers with North America, via the Port of Vancouver. Read more here.
INTERNATIONAL BUSINESS GOVERNMENT UPDATES
US begins collecting higher tariffs on Chinese goods arriving by sea
WASHINGTON (Reuters) – The United States began collecting higher, 25% tariffs on many Chinese goods arriving in U.S. seaports on Saturday morning in an intensification of the trade war between the world’s two largest economies and drawing retaliation from Beijing. Read more here.
US retailers under threat from Amazon move to free next-day shipping
Already burdened with escalating costs, retailers now face a desperate struggle to respond to Amazon’s move to next-day delivery for free shipping. Read more here.