Newsletter – May 30, 2019
OCEAN FREIGHT UPDATES
APL bows out from Asia-Europe tradelane
After more than 30 years a famous name is bowing out on the Asia-Europe boxship tradelane. France’s CMA CGM yesterday announced a significant restructuring of the group. Among key changes, APL, bought from Singapore sovereign wealth fund Temasek in 2016, will no longer be involved on the Asia-Europe trades. Read more here.
Box line Yang Ming sets up shop in Indonesia
Taiwan-based box-shipping line, Yang Ming, has set up shop in Jakarta, Indonesia, with joint venture partners. The new subsidiary will be known as “PT Yang Ming Shipping Indonesia”. Read more here.
More carriers, even the doubters, are turning to scrubbers for IMO 2020
Around 16% of the ocean carrier global fleet – equating to 36% in terms of teu capacity – will be equipped with exhaust gas cleaning scrubber systems to comply with the IMO 2020 0.5% sulphur cap, according to Alphaliner. Read more here.
GROUND AND RAIL FREIGHT UPDATES
U.S. rail volumes slump, particularly for intermodal
U.S. rail volumes tumbled 6.7 percent for the week ending May 25 as slumping intermodal volumes dragged total volumes lower. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Vietnam exports boom as China shipments to US slump
Exports from Vietnam to the US grew 40.2%, year on year, in the first three months of 2019, while exports from China to the US slumped by 13.9%, in what appears to be a clear indicator of the effects of the ongoing US-China trade tensions on international trade and supply chains. Read more here.
Columbia Sportswear CEO says trade war shifting focus to sourcing over selling
The CEO of Columbia Sportswear has called the trade war between the US and China “Very disruptive to business” additing it is forcing apparel and footwear brands to focus on sourcing instead of selling. Read more here.