Newsletter – May 29, 2018
OCEAN FREIGHT UPDATES
Analysis: investors may be feeling queasy as Maersk financials hit choppy water
Is Denmark’s AP Møller-Maersk Group (APMM) kicking the can down the road?
This is the obvious, and entirely legitimate, question that arises if you have spent any serious time sifting through its cash flow statements following its first-quarter (Q1) numbers on 17 May. Here is my take. Read more here.
CMA CGM and Zim each posted first-quarter losses last week.
Both pinned the blame on escalating fuel costs, joining their container shipping peers in what has been a dismal first quarter. Read more here.
HMM pulls out of transatlantic trades
Hyundai Merchant Marine is pulling out of the transatlantic market to focus on its core trades as it struggles with current market conditions. Read more here.
GROUND AND RAIL FREIGHT UPDATES
CP Rail winding down service as it faces countdown to Tuesday evening strike
Montreal, QC — The countdown to another Canadian railway strike is on.
Canadian Pacific Railway workers are set to strike Tuesday night, potentially forcing the railroad to shut down its freight service and leaving commuters with the prospect of delays in the country’s three largest cities. Read more here.
US trucking prices spiral as driver crisis builds
Surging US trucking rates are continuing to weigh heavily on global supply chain costs and are set to further spike during the ocean shipping peak season later this year. But 3PLs and forwarders contacted by Lloyd’s Loading List said some shippers remain reluctant to accept higher rates. Read more here.
Brazil truck strike continues to hinder trade, despite concessions offer
A nationwide truckers’ strike in Brazil over soaring fuel prices that has crippled the Brazilian economy has entered a ninth day.
Brazil’s government said it reached an agreement with the main truck drivers’ union late on Sunday, but a significant number of drivers continued to protest early on Tuesday. Read more here.