Free trade now! Archives - Page 3 of 3

China-US trade war just a ‘bump in the road’ to better business connectivity

21 November 2018

Logistics stakeholders in Asia have shrugged off the China-US trade war as a “bump in the road” and reiterated their commitment to free trade.
“As we all know, free trade is taking somewhat of a thrashing these days, given the rise of unilateralism and protectionism,” Hong Kong chief executive Carrie Lam (pictured) told delegates at the Asia Logistics & Maritime Conference yesterday.
“Let me assure you that for Hong Kong the primacy of …

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Asia-US spot rates spiked by rush to fill ships to beat trade war tariffs

16 November 2018

The Asia to the US east coast component of the Shanghai Containerised Freight Index (SCFI) has continued to gain traction.
This week it added 3.5% to reach $3,739 per 40ft, on strong demand fundamentals.
Spiked by the rush to beat 25% tariffs to be levied on a range of consumer imports to the US from China on 1 January, carriers are running full ships and therefore able to secure premium rates for …

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https://theloadstar.co.uk/asia-us-spot-rates-spiked-rush-fill-ships-beat-trade-war-tariffs/

Shipping remains ‘cautiously optimistic’, but is wary of protectionism

13 November 2018

Protectionist trade policies are continuing to spook the global maritime sector, although a newly released report suggests the industry has “cautious optimism”.
The Navis Business Bellwether report, conducted by Business Performance Innovation (BPI), surveyed more than 174 maritime executives on expectations and fears for the coming year.
Topping the list of worries was protectionist trade policies, but the report also found 82% of respondents were expecting an uptick or stabilisation in...

https://theloadstar.co.uk/shipping-remains-cautiously-optimistic-wary-protectionism/

Jack Ma bemoans ‘stupid’ trade war; but South-east Asia is upbeat

5 November 2018

Alibaba founder Jack Ma has called the trade war “the most stupid thing in this world”. While tensions rise, with an increasing expectation that the US will add more tariffs on Chinese exports next year, Mr Ma argued that in fact China was soon to become a major buyer of foreign products, as the services sector, rather than manufacturing, was now powering its job growth.
Not everyone, however, is set to …

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https://theloadstar.co.uk/jack-ma-bemoans-stupid-trade-war-south-east-asia-upbeat/

More blanked sailings on the cards as carriers fail to lift Asia-Europe spot rates

2 November 2018

Despite blanking 11 sailings this month, carriers have so far failed in their efforts to lift freight rates between Asia and North Europe.
And with bunker prices some 40% higher than a year ago, the tradelane is in potentially sub-economic territory.
Fortunately for ocean carriers, their transpacific trades are enjoying a post-peak season boom ahead of punitive 25% import tariffs due to be imposed by the US on a wide range of …

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https://theloadstar.co.uk/blanked-sailings-cards-carriers-fail-lift-asia-europe-spot-rates/

Surface transport the star performer in a strong nine months for CH Robinson

31 October 2018

CH Robinson recorded surging growth in profits and revenues for the nine months to September, with its North American surface transport (Nast) division driving performance.
Group first-half revenue surpassed the $12.4bn mark, up 14.5% year on year, generating some $477m in profits, a significant 35.5% increase on 2017.
Chief executive John Wiehoff said the company had seen cash flow benefit from improved working capital and US tax reforms, with growth in the third …

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