Newsletter- May 10, 2019
OCEAN FREIGHT UPDATES
$150m profit turnaround for Hapag-Lloyd in Q1, ‘but Q2 will be tougher’
Hapag-Lloyd recorded a net profit of $109m in the first quarter as the carrier benefited from increased volumes and average freight rate gains on most of its liner trades. Read more here.
Speed reduction proposals favour old inefficient ships: Maersk
Maersk’s point man for crunch greenhouse gas (GHG) talks next week at the International Maritime Organization (IMO) in London has made clear Denmark’s largest shipping line is firmly against the growing clamour for speed limit regulations. Read more here.
FMC doubts overcapacity or IMO 2020 will cause carrier bankruptcies
THE US Federal Maritime Commission (FMC) has assured the industry that it sees no bankruptcies among ocean carriers because of weak rates or stringent clean fuel rules, reports New York’s FreightWaves. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Further Negotiation Dates Set for BCMEA and ILWU – Canada
The B.C. Maritime Employers Association has advised that further meetings have been scheduled with the International Longshore and Warehouse Union – Canada, beginning Tuesday, May 21 and continuing on May 22, 23 and 24. The meetings will be facilitated by the Federal Mediation and Conciliation Service (FMCS).
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Amazon’s 1-day delivery seen as Big Bang that redefines e-commerce
AMAZON.COM says it will spend US$800 million this quarter to expand one-day shipping, a move analysts say, may well re-define e-commerce, reports CNBC News. Read more here.