Newsletter – November 29, 2018
OCEAN FREIGHT UPDATES
‘Back to the future’ with revival of cargo sailing ships
Car maker Renault has announced the signing of a three-year partnership with start-up Neoline, a designer and operator of cargo sailing ships, which could see the French auto maker ship finished vehicles across the Atlantic using wind-powered vessels. Read more here.
GROUND AND RAIL FREIGHT UPDATES
Alberta urges Feds to increase crude-by-rail capacity
Calgary, AB — Big Canadian oil and gas companies face downgrades in their credit scores if current steep price discounts for their products continue, warns credit rating agency DBRS Ltd. in a report released Wednesday. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Unprecedented backlogs will continue to mean lengthy delays for customers
Canada Post is working to stabilize operations after the end of the rotating strikes. With our network currently facing unprecedented backlogs, customers can continue to expect delivery delays for the next several weeks. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Strong dollar masking tariff impact as US consumers carry on spending
B2C shipments are masking the impact of the China-US trade war as a strong dollar encourages American consumers to buy more overseas goods. Read more here.
NAFTA partners expected to sign USMCA on Friday
The U.S., Mexico and Canada are expected to formally sign the U.S.-Mexico-Canada Agreement (USMCA) during the G20 summit in Buenos Aires on Friday, according to a readout of a phone call between outgoing Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau. Read more here.