Newsletter – November 26, 2018
OCEAN FREIGHT UPDATES
CMA CGM back in the black in Q3, but fuel costs force discounted rates
CMA CGM moved back into the black in the third quarter, and recorded a net profit of $49m for the nine-month period.
However, in the third quarter, the French carrier was beaten to its ‘best in class’ financial performance ranking by Hapag-Lloyd which reported a stronger recovery. Read more here.
Hapag-Lloyd to launch premium product as part of new five-year plan
Hapag-Lloyd is to offer a choice between a standard or premium product across some of its service routes.
The move follows an extensive market research survey by the carrier which revealed that more than 50% of respondents showed “a willingness to pay more” for a higher-quality offering. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Canada Post back to work bill passed during late night Commons sitting
Ottawa, ON — Legislation ordering postal workers back to work was passed in the House of Commons during a special session that dragged on into the wee hours of Saturday morning. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
France fuel protests: Police in Paris fire tear gas
Police in Paris have used tear gas and water cannon to disperse protesters, in a second weekend of demonstrations sparked by rising fuel prices.
Violence erupted on the Champs-Elysées as protesters tried to get through a security cordon around sensitive sites. Read more here.
Tariffs seen as undercutting global shipping and trade
The trade war between the US and China has had obvious recent positive effects on US west coast ports, but economists generally see the benefits as short-lived. Over the longer term, the consensus is that, without an agreement between the two nations, shipping and trade will decline in the coming year. Read more here.
E-commerce logistics: how to make money from free shipping
China’s Singles Day smashed records again for online shopping (Thanksgiving weekend is as yet uncounted). Alibaba set a new high, selling over $30.8bn worth of goods in 24 hours. Rival JD reported a 27% surge in revenue for the day. Read more here.