Newsletter – May 28, 2019
AIR FREIGHT UPDATES
Boeing’s parking bill mounts as 737 Max remains grounded worldwide
WHILE regulators contemplate whether Boeing’s 737 Max can safely return to the skies, workers in a California airplane-storage yard have sealed 34 Southwest Airlines jets against the Mojave Desert’s sun, wind and sand, as well as insects and birds that can creep into wheel wells and engine air inlets.
OCEAN FREIGHT UPDATES
Maersk CEO Skou sees difficult market conditions for container shipping
FREE-SPENDING days at AP Moller-Maersk group, the world’s biggest shipping company, are over as its CEO Soren Skou looks forward to a challenging markets ahead in world container shipping. Read more here.
Port of Québec announces deal to develop new $775M container terminal
Quebec City, QC — The Québec Port Authority (QPA) announced the signing of a long-term commercial agreement with Hutchison Ports and Canadian National Railway to build and operate the new container terminal, known as project Laurentia (previously Beauport 2020). Read more here.
Uncertain times for transpacific traders and carriers
Ocean freight’s demand growth prospects on the transpacific have significantly weakened in the last few weeks due to the new uncertainty created by the revival of the US-China trade war, container shipping analyst Drewry highlighted today. Read more here.
GROUND AND RAIL FREIGHT UPDATES
New York’s Adoption Of Congestion Charging Might Mean Something Much More Radical Could Come
In 1975, Singapore was the first city in the world to try “congestion charging” — a toll for driving into the central business district meant to reduce traffic there. Since then, the idea has been very slow to catch on, spreading to only a few cities. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Tariffs Will Shift Sourcing From China And May Force Closing Of U.S. Stores
One thing is certain: Tariffs on goods from China will be inflationary since U.S. retailers will have to add the cost of tariffs to the costs of goods. It’s a problem that affects merchandise across the entire industry. Read more here.