Newsletter – August 9, 2018

OCEAN FREIGHT UPDATES

Transport Strike Leads to Delays at Chittagong Port

source: maritime-executive.com
A 36-hour transport strike in Chittagong, Bangladesh led to serious delays at the port, with thousands of export and import containers affected.
According to Bangladeshi outlet Daily Star, about 4,200 TEU worth of container traffic was affected, leading to congestion at container terminals. Three bulk terminals also shut down for the duration of the strike.  Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

Feds transfer four port facilities to the Government of Quebec

source: canadianshipper.com
Matane, QC — Transport Canada announced for the transfer, as of March 30, 2020, of the ports of Matane, Gaspé, Rimouski and Gros-Cacouna to the Government of Quebec under the Port Facility Transfer Program. In addition to the commercial docks, the transfer includes buildings and storage areas, breakwaters at the Matane and Gros-Cacouna ports and a spur pier at the Port of Rimouski.  Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES

U.S.-China trade war can make Indian products competitive, says CII report

source: thehindu.com
With the U.S. imposing an additional 25% duty on imports worth $34 billion from China, certain Indian products may become more competitive, the CII said.
An analysis by the industry chamber revealed that India should focus on the U.S. market for items in the categories of machinery, electrical equipment, vehicles and transport parts, chemicals, plastics and rubber products. Read more here.

Trade war: Trump administration finalises US$16 billion China tariff list

source: shippingazette.com
THE US will sign into effect another round of 25 per cent tariffs on US$16 billion of Chinese imported goods in two weeks, according to the US Trade Representative’s Office.
A further 279 product lines will face tariffs from August 23, adding to the $34 billion of goods already subjected to 25 per cent levies in July.

The new list includes products such as motorcycles, turbines and railway cars, but it was decided to exclude shipping containers, fertilisers and log splitters, all of which are heavily dependent on Chinese manufacturing, Bloomberg reports.
As with the previous round of tariffs, China has pledged to immediately retaliate in kind with equal tariffs on $16 billion of US imports.