Newsletter – June 1, 2021

OCEAN FREIGHT UPDATES

Boxships make alternate plans following Yantian Covid outbreak

splash247.com
A Covid-19 outbreak around Yantian Port has seen boxships weigh anchor in the South China Sea and others switch port calls to Nansha, the latest pandemic headache to hit liner planning departments.
The outbreak, first detected at the key boxport 10 days ago, has seen three berths closed and others work at just 30% of their capacity as authorities put in place strict disinfection and quarantine measures. Read more here.

Ocean freight rates continue relentless rise

lloydsloadinglist.com
CONTAINER freight spot rates to Europe ex-Asia have continued their relentless rise, with rates now closing in on $6,000 per teu for Shanghai-northern Europe volumes – and much higher in reality, with further surcharges and premiums required in the current market to get any kind of guarantee that the container will move. Read more here.

Protests add to congestion woes at Hamburg forcing carriers to drop calls

splash247.com
Shipping companies, such as Maersk and MSC, are rerouting thier ships from Hamburg as a result of high yard density and exceptional waiting time.
Climate activists of the Extinction Rebellion have been protesting for days, blocking roads and the Köhlbrand Bridge, an important traffic artery in the Port of Hamburg. Read more here.

The commercialisation of port call optimisation

splash247.com
I have something to confess. I am, and have been for some time, obsessed with port call optimisation. It was the simplicity of it all that attracted me, the idea that if we all shared our data and worked together, we could achieve great things for the benefit of an entire community.
Of late, that beautiful paragon appears to have all but dissipated and we’re left with a slew of companies each proclaiming to have the answer to all of our port call problems. I’ll admit we fit into that category too, but more on that later. Has the commercialisation of port call optimisation steered us away from its original path or was the scope of the problem too great, with commodification being the only clear way to tackle it? Read more here.

Erdogan vows to begin construction on Canal Istanbul in June

ajot.com
Turkish President Recep Tayyip Erdogan said the construction of a multi-billion dollar canal, an alternative to Istanbul’s Bosporus strait, will begin at the end of June as the pandemic continues to take its toll on the country’s ailing economy.
Erdogan’s announcement on Saturday came a decade after he first revealed his “crazy project” and at a time when his support has hit an all-time low. The 45-kilometer (28-mile) Canal Istanbul would cost around $15 billion and link the Black Sea with the Sea of Marmara, officials say. Read more here.

CANADA BUSINESS – GOVERNMENT UPDATES

OECD sees improved Canadian economic growth this year

insidelogistics.ca
Canada’s economy could be in for a significant rebound this year, according to an upgraded outlook from the Organization for Economic Co-operation and Development.
In a report released Monday, the Paris-based think tank also known as the OECD, said it now expects the Canadian economy to grow by 6.1 percent in 2021. The prediction is up from an estimate for growth of 4.7 percent that the OECD made in March. Read more here.