Newsletter – September 4, 2020

  • 04

    Sep

    Newsletter – September 4, 2020
    OCEAN FREIGHT UPDATES
    Shipper relief as ocean carriers finally scrap low-sulphur surcharges
    theloadstar.com
    Ocean carriers are officially scrapping the low-sulphur fuel surcharges introduced last year to mitigate the impact of the 1 January IMO 0.5% sulphur cap regulations on marine fuel.
    Maintaining low-sulphur surcharges as fuel prices plunged has been a bone of contention for shippers, who have criticised carriers for being slow to ditch the additional fee. Read more here.
    OOCL to cancel October transpacific sailings as demand falls
    seanews.com.tr
    HONG KONG’s Orient Overseas Container Line (OOCL) has announced nine transpacific sailing cancellations in response to a reduction in demand in October.
    On the Pacific China North 1 (PCN1) service, with the port rotation of Tianjin, Qingdao, Shanghai, Prince Rupert, Long Beach, Seattle and back to Tianjin, the October 3 sailing from Tianjin will be cancelled. Read more here.
    More ammonium nitrate found at Beirut port
    splash247.com
    The Lebanese army found another 4.35 tonnes of explosive ammonium nitrate yesterday near the entrance to Beirut port, one month on from the deadly blast caused by 2,750 tonnes of the same substance that ripped apart much of the city.
    Army engineers were “dealing with it,” according to an army statement carried by the state news agency NNA. The statement said the chemicals were found outside entrance nine to the port. Read more here.
    GROUND AND RAIL FREIGHT UPDATES
    National Trucking Week 2020: Considering the Essentials
    bctrucking.com
    As we approach six months into a global pandemic, “essential” has taken on a different meaning. While economies shut down in an attempt to keep the coronavirus at bay and our healthcare systems functioning, we all had to grapple with two questions. Could we operate virtually?  And if not, was our service essential to daily life? Read more here.
    CANADA BUSINESS – GOVERNMENT UPDATES
    DP World and Canadian fund commit additional $4.5bn to port investment platform
    splash247.com
    Dubai-based port operator DP World and its Canadian partner Caisse de dépôt et placement du Québec (CDPQ), an institutional investor, have committed an additional $4.5bn investment to expand the ports and terminal network they own and operate.
    The additional funds will raise the combined investment by the two parties to $8.2bn. DP World owns 55% of the investment platform while CDPQ holds the remaining 45%. Read more here.
    COVID-19: The role of pent-up demand
    edc.ca
    COVID-19 has clobbered the global economy. Massive decline is imprinted in second-quarter gross domestic product (GDP) data everywhere. Analysts and news outlets alike can’t decide whether the numbers point to better or worse times ahead, which gives rise to a critical question: when economies falter, what brings them back up again?  Read more here.

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