Newsletter – May 30, 2018
OCEAN FREIGHT UPDATES
Shippers lash emergency bunker surcharges
Leading shippers have hit out at the rush by struggling boxlines to implement emergency bunker surcharges.
After a series of weak first quarter result from the worlds’s top containerlines, mnany have introduced emergency bunker surcharges of anywhere from $60 to $90 per TEU in the past few days, a move that has been lashed by customers. Read more here.
GROUND AND RAIL FREIGHT UPDATES
CP Rail train operators on strike; signal workers reach agreement
Montreal, QC — Canadian Pacific Rail’s more than 3,000 train operators walked off the job late Tuesday night while a second group of workers reached a tentative contract settlement with the rail company. Read more here.
CN’s perfect storm of good and bad news that made a perfect mess
THE Canadian National Railway has faced a perfect storm of good and bad news prompting various actions that produced a perfect mess for Canada’s No 1 railway, according to Milwaukee’s Progressive Railroading journal.
First the bad news. Facing poor results and expecting poorer prospects in 2016, CN braced for shrinkage, shelved capital spending and laid-off train crews. Read more here.
Blockchain continues to gain momentum in trucking
Blockchain technology is said to streamline payment transactions – and possibly eliminate the middleman – in trucking. We’ve also heard that early adopters of blockchain will have an advantage over companies who drag their feet. And most recently we heard, “Blockchain is coming. Get ready for it.” Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Trois-Rivières launches big breakbulk terminal
Mid-way between Montreal and Quebec City on the St. Lawrence River, the Port of Trois-Rivières has inaugurated a breakbulk terminal operated by Logistec Corporation that entailed investments exceeding US$22 million (C$27 million). Ninety per cent of the port’s three million metric tons of cargo is related to international trade, with the breakbulk component steadily rising. Read more here.
INTERNATIONAL BUSINESS & GOVERNMENT UPDATES
Strikes in Brazil cause shipping and logistics chaos
A nine-day strike by some 600,000 truck drivers protesting surging diesel prices in Brazil shows no sign of ending.
Hundreds of flights have now been grounded since the start of the strike, most ports are unable to operate and Sao Paulo, the region’s lead business hub, has declared a state of emergency. Read more here.