Newsletter – October 18, 2019
OCEAN FREIGHT UPDATES
Global Container Terminals joins IBM-Maersk blockchain groupfreightwaves.comGlobal Container Terminals Inc. (GCT) said it will take part in the TradeLens blockchain platform developed by Maersk (Nasdaq OMX: MAER.B) and IBM (NYSE: IBM).GCT, which operates two marine terminals on the U.S. East Coast and two on Canada’s west coast, said TradeLens will be rolled out “in phases” at all four of GCT’s terminals. Read more here.
New IMO 2020 fuel indexing mechanism launchedfreigthwaves.comWith container line stakeholders facing an additional $11 billion fuel bill next year due to the switch to low-sulfur fuel oil, shipping consultant Drewry has joined with the European Shippers’ Council (ESC) to launch a new bunker adjustment factor (BAF) indexing mechanism. Read more here.
Carriers may have halted container rate erosion, just as contract talks loomtheloadstar.comAsia-North Europe ocean carriers are preparing big increases in FAK rates next month, after squeezing capacity on the route with blanked sailings and a suspended loop. Read more here (login required)
LNG: the fuel of the future for containerships, or a ‘disastrous’ option?theloadstar.comBy the end of next year, 20-25% of the global containership fleet will be fitted with scrubbers, enabling them to consume cheaper heavy fuel oil (HFO) blends, predicts Alphaliner. Read more here (login required).
GROUND AND RAIL FREIGHT UPDATES
TAPA and EU want a common standard for secure truck parking as crime risestheloadstar.comThe Transported Asset Protection Association (TAPA) wants to work with the EU to create a common standard for secure truck parking, in a bid to prevent cargo crime that has reached record levels this year. Read more here (login required).
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
China’s electronics exporters desperately look for an escape from US trade war nightmarescmp.comAda Yeung comes to the Hong Kong Electronics Fair every year to meet potential buyers for her company’s Chinese-made earbuds and speakers – but this year, having lost 70 per cent of her business to the US-China trade war, the need to find customers is urgent. Read more here.