What We're Reading: Trendwatch Week 33

cranes loading MSC and Maersk containers on ship

The US is delaying imposing tariffs on some imports from China until 15 December because of "health, safety, national security and other factors

The products include mobile phones, laptops, video game consoles, some toys, computer monitors, and certain footwear and clothing. 

The surprise news from the United States Trade Representative office sparked a rally in share prices. 

Source: BBC

 

World's largest container ship transits Suez Canal 

The 23,756-TEU MSC Gulsun, the world's largest container ship, transited the Suez Canal for the first time on August 9. 

The Panama-flagged ship transited the Canal with the northbound convoy, heading to North-Western Europe from the Port of Xingang. 

The MSC Gulsun is the first of 11 sister vessels the shipping line has under construction at Samsung Heavy Industries and DSME in South Korea. The vessels are set for operations between the Far East and North-Western Europe via the Suez Canal as part of the AE 10/SILK service in collaboration with Maersk Line. 

Source: The Maritime-Executive

 

CBP updates mitigation guidelines for export seizures 

U.S. Customs and Border Protection has updated its seizure mitigation guidelines involving licensed and non-licensed exports for its officers at the nation’s ports of entry. 

The new guidelines, which were developed by CBP’s Office of Regulations and Rulings, are part of a larger update involving 39 different types of agency enforcement actions, starting in October 2017. 

While praising CBP for publishing updated mitigation guidelines for export seizures, Michael Ford, vice president of government and industry affairs for Philadelphia-based forwarder BDP International, warned that the penalty amounts for licensed exports are now much higher and “companies need to understand that a clerical error can cause a sizable penalty that they will need to deal with.” 

Source: Freight Waves

 

Scrubbers will help shipping hit greenhouse gas reduction targets 

Vessels using heavy fuel oil scrubber systems will have a “positive” effect on global CO2 emissions, according to a new report. 

Norwegian research organisation Sintef claims a combination of high-sulphur fuel oil (HSFO) and an exhaust gas cleaning system (EGCS) represents the best means of meeting the needs of shipping and hitting global greenhouse gas reduction targets. 

Source: The Loadstar

 

 

China's US trade slumps again, but exports rise due to higher demand from Asian neighbours

 

The first year of the US-China tariff war drove the world’s two largest economies further apart on trade, with new data suggesting that Beijing may be looking to its Asian neighbours to take up some of the slack as the mainland seeks to become less reliant on the United States. 

Source: South China Morning Post

 

FTZ designation aims to boost Montreal's international cargo flows

The FTZ designation covers the entire metropolitan Montreal area, allowing companies to import goods for manufacturing or assembly duty-free for up to four years, provided the final product leaving the zone is for export. 

Transport interests in Montreal, under the umbrella of CargoM, have vied for FTZ status for the region to generate more international cargo traffic. 

Source: The Loadstar