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November on course to be the crunch month for ocean carriers

By Mike Wackett

November will be a decisive month for ocean carriers as they go all out to push up container spot rates on the key tradelanes of Asia-Europe and the transpacific. According to Alexander Borulev, commodity associate at S&P Global Platts, rates are “no longer falling” due to the blanking programmes of the carriers. And they are preparing a raft of FAK and general rate increases for 1 November. However, the extent of the challenge facing the global carriers is evidenced by today’s Shanghai Containerized Freight Index (SCFI), which continues to record substantially depressed rate levels for both routes. Nevertheless, there was a small 2.4 per cent gain this week for the North European market, to $594 per TEU, but this is still some 21 per cent below the level recorded by the index in the same week a year ago. (more…)

Port of Trois-Rivières: Hason builds oversized parts assembly plant for petrochemical industry

Port of Trois-Rivières: Hason builds oversized parts assembly plant for petrochemical industry

Hason Steel and the Port of Trois-Rivières have reached an agreement for the construction of an oversized parts assembly plant for the petrochemical industry. Some forty permanent jobs will result from this project. The new project will be part of the development of the industrial-port zone of Trois-Rivières.

The port of Trois-Rivières, with close proximity to the construction site, was the logical choice for Hason. The company will carry out its reactor assembly operations at its new plant, and transport modules to the port to ship them assembled to customers around the world.

“By shipping its reactors in one piece by boat, Hason sets itself apart from its competitors, offers added value to its customers and is able to access new markets. We are proud to be a key part of this innovation,” said Gaétan Boivin, President and CEO of Port of Trois-Rivières.

Shippers nervous as new Europe-Asia container capacity crunch looms

By Mike Wackett

CMA CGM has announced that it will increase its 40ft FAK rate from North Europe to Asia to $850 from 1 November. The first adjustment this year by the French carrier of its backhaul rates could coincide with what European exporters fear: a severe capacity crunch as a consequence of the vast number of blanked westbound voyages this month, which were a result of the Chinese Golden Week factory shutdown this week and particularly soft forward demand forecasts. Additionally, Maersk and MSC decided to again temporarily suspend their AE2/Swan loop, removing around 18,000 slots a week from the market in a bid to avoid a complete collapse of freight rates on the route. (more…)

Port of Trois-Rivières: A driver of growth through innovation

Port of Trois-Rivières: A driver of growth through innovation

Over the past decade, Port of Trois-Rivières and its partners have invested $ 132 million to modernize existing infrastructure. Although these investments have resulted in a 40 per cent increase in port terminal capacity, these facilities are now almost fully utilized.

While the Port continues to be approached by many shippers who wish to call on the port, and while current customers have continuing needs to utilize port facilities, the Port must be innovative to meet the rising demand. In addition, the Port must be versatile and show agility to respond quickly and effectively to the needs of its customers. (more…)

Panama Canal use by box ships slows only slightly, but trade wars continue to threaten

By Mike Wackett

The number of container ships transiting the Panama Canal during its fiscal year ending 30 September declined slightly, by 1.1 per cent to 2,575. But, there could be further reductions after ocean carriers announced a number of blanked sailings in the coming weeks on their Asia-US east coast all-water schedules ahead of the slack season. Dry bulk ships were the biggest users of the waterway, 2,657 vessels, also down 1.1 per cent; chemical tankers, at 2,035, were down just 0.4 per cent; and LPG carriers with 1,087 transits, were up 6.9 per cent. (more…)

MSC the latest carrier pledging to avoid the Northern Sea Route

By Gavin van Marle

MSC has joined a growing list of container carriers ruling out operating vessels in the Arctic, due to thinning sea ice round the North Pole. This is despite the fact that these conditions have made the Northern Sea Route between Europe and Asia increasingly viable for the lines. The Geneva-headquartered carrier said it would focus on “improving environmental performance on existing global trade routes”, as it had become “convinced that the 21 million containers moved each year for its customers can be transported around the world without passing through this Arctic corridor”. Chief Executive Diego Aponte explained: ““As a responsible company, with a longstanding nautical heritage and passion for the sea, MSC finds the disappearance of Arctic ice profoundly disturbing. Every drop in the oceans is precious and our industry should focus its efforts on limiting environmental emissions and protecting the marine environment.” (more…)