Newsletter – November 28, 2017
Bali airport stays shut but Lombok reopens
Bali’s international airport remains shut for a second day due to the threat of a volcanic eruption from Mount Agung.
The Indonesian authorities have extended the shutdown to at least 07:00 local time (00:00 GMT) Wednesday 29 November. Read more here.
The recent surge in freight volumes receded in September 2017, said Airports Council International (ACI).
In its latest figures published on 24 November, ACI said year on year figures fell to 6.8%, from 10.5% in August of the same year. Passenger traffic also slowed down slightly, dropping 1.6 percentage points from August to 5.1%. Read more here.
Container volumes on course for record year
Container volume growth continues apace, with loaded shipments on course to break 200 million teu in 2017, analyst Drewry has confirmed.
In Drewry’s last Container Forecaster, published in October, it predicted that world loaded container traffic (total port throughput minus transhipment and empties, divided in two to account for double-counting) would this year break the 200 million teu threshold for the first time ever. Read more here.
FMC Schedules Hearings on Fair Port Practices
The Federal Maritime Commission (FMC) has announced that it will hold public meetings on January 16 and 17, 2018 in Washington, DC, to receive testimony from maritime industry witnesses regarding a petition filed last December by the Coalition for Fair Port Practices that raised issues associated with detention, demurrage, and per diem charges. Read more here.
CMA CGM Q3 sees record liftings and a $600m turnaround on 2016
CMA CGM posted a net profit of $323m for the third quarter, compared with the $268m loss in the same period of 2016, adding to the $320m positive achieved at the H1 stage.
The French carrier’s revenue leapt 27.7% on the previous year, to $5.7bn, from an 11.6% increase in volume carried to 4.98m teu – a new record figure. Read more here.
GROUND AND RAIL UPDATES
CN Updates Customers on the Status of Tracks Affected by B.C. Landslides
A CN customer bulletin issued on November 25 provided an update on the status of tracks affected by landslides in British Columbia.
•The Ashcroft subdivision resumed service as of 12:00 PST on Saturday.
•The Squamish subdivision resumed service as of 22:00 PST on Friday.
•The Yale subdivision resumed service as of 00:30 PST on Friday.
Customers were told to expect delays due to a traffic backlog in the Edmonton to Vancouver corridor over the following 24 to 48 hours.
ELDs needed sooner, rather than later
Toronto, ON — A Canadian regulation mandating the use of electronic logging devices (ELDs) can’t come “soon enough,” according to David Carruth, CEO at One For Freight.
He was speaking on the subject of ELDs and trucking technologies during a webinar hosted by Omnitracs. One For Freight has already made the transition to e-logs in advance of a U.S. mandate that takes effect Dec. 18, and he would like to see Canada move more quickly to pass a similar regulation. Read more here.
INTERNATIONAL BUSINESS GOVERNMENT UPDATES
Singapore and Hong Kong find it hard to keep taxes low as people age
THE divergence of Singapore and Hong Kong as financial and shipping centres is growing as Singapore plans to raise taxes while Hong Kong clings to its low-tax regime.
Singapore’s goods and services tax (GST) of 1994 now accounts for almost one-quarter of the city state’s taxes. Read more here.