Newsletter – October 5, 2020

OCEAN FREIGHT UPDATES

Montreal / Halifax – Glasgow Express will assist with Halifax Backlog

hapag-lloyd.com

Cargo from the diverted vessels that discharged in Halifax due to the Montreal Port strike is currently experiencing excessive dwell times and the lack of sufficient railcars at Halifax to cope with the additional volumes continues with no immediate solution in sight.

Subsequently, and in accordance with Canadian cabotage requirements, arrangements have been made to divert a vessel to Halifax to evacuate the delayed cargo and bring it to Montreal for furtherance inland. Read more here.

Shortage of the right containers hobbling export revival in Bangladesh

theloadstar.com

An acute shortage of containers is hampering exports from Bangladesh via Chittagong, following a significant fall of imports as a consequence of Covid-19.

Many mainline operators are bringing empty containers from hub ports, including Singapore, Colombo and Port Klang, to Chittagong port to carry outbound cargo. Read more here.

Liner schedule reliability hits new low as rates peak

splash247.com

Global liner average schedule reliability hit an all-time low point in August, both in terms of the actual performance levels, as well as in terms of the speed with which performance has declined, according to new analysis from Copenhagen-based Sea-Intelligence, which has been tracking carrier reliability levels since 2011. Read more here.

IMO site back up while CMA CGM struggles to get back online

splash247.com

CMA CGM’s eBusiness website remains down one week on from a ransomware attack, while the website of the United Nations agency, the International Maritime Organization (IMO), is back up and running, having been the victim of a cyber attack on Wednesday.

A number of IMO’s web-based services became unavailable on Wednesday. The systems impacted included the IMO public website and other web-based services. Read more here.

GROUNDAND RAILFREIGHT UPDATES

Order from chaos: China’s Belt and Road, seven years in

theloadstar.com

Brooking has published an interesting article on China’s Belt & Road Initiative – a not particularly transparent project. As it notes, the BRI is primarily a programme to fund infrastructure, with about two-thirds of financing – some $50-$100bn each year – going to power and transport. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Terminal operator and port authority clash over expansion for Vancouver

theloadstar.com

Vancouver Fraser Port Authority (VFPA) plans for a fourth container terminal have been halted by a government request for more information.

As he considers the project’s impact, Canadian minister of environment and climate change Jonathan Wilkinson has called for further consultation with groups whose land is adjacent to the site. Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

COVID-19: Fast won’t last

edc.ca

Change is no more evident today than in near-term forecasts. In COVID-19, we’re dealing with an event and a response that no living economist has seen or studied before. We’re all learning as we go. All the same, whether you believe it or not, economic fundamentals are still in operation. Are they telling us anything about the near-term outlook for the world economy? Read more here.