Newsletter – March 1, 2019
OCEAN FREIGHT UPDATES
More empty containers going to Asia than loaded ones as tariff effect lingers
Transpacific ocean carriers are deadheading more equipment back to Asia than ever before – with US import tariffs actually exacerbating the imbalance. Read more here.
APL launches accelerated China-US intermodal product
CMA CGM’s APL unit is seeking to solve the hinterland congestion problem that has been plaguing shippers and cargo owners at US west coast ports, with the introduction of an express rail service. Read more here.
IMO 2020 low-sulphur fuel cap ‘could cost shipping industry $3bn’ next year
Shipping costs could rise by $3bn next year, according to a new report that will undoubtedly unnerve shippers.
The cost rise will follow the “steep” drop associated with next year’s IMO implementation of the 0.5% sulphur cap, against 3.5% allowed now. Read more here.
GROUND AND RAIL FREIGHT BUSINESS
Europe’s trucking crisis now threatening economic growth
Europe’s supply chain managers and political leaders face crunch decisions as mounting driver shortages threaten to curb economic growth and inflate shipping costs, according to one leading executive. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
US shelves planned China tariff rise ‘until further notice’
Washington (CNN Business)The Trump administration has officially shelved its threat to sharply increase tariffs on $200 billion of Chinese exports as the world’s two largest economies inch closer to a deal. Read more here.
APM Terminals opens Costa Rica port
The inauguration of the delayed APM Terminals Moín yesterday will enable products to be shipped on transatlantic routes to European and Asian markets without transhipment, the port operator stated in a release. Read more here.