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Newsletter – November 15, 2019
OCEAN FREIGHT UPDATES
Maersk profits surge despite revenue contraction
freightwaves.comMaersk chose profitability over market share in the third quarter as the container shipping giant bolstered its bottom line on lower revenues.A.P. Moller – Maersk (APMM) said its ocean container shipping division generated freight revenues of $6.373 million in the quarter ended September 30, down 0.9% compared to a year earlier. Read more here.
Returning chartered ships makes a dent in Yang Ming results
theloadstar.comTaiwanese container shipping line Yang Ming yesterday reported consolidated third-quarter revenues of NTD37.78bn (US$1.22bn) on the back of a 2% increase in volumes to 1.44m teu. Read more here.
Port of LA tariff study sends stern warnings on real impact of trade war
dailybreeze.comA study commissioned by the Port of Los Angeles has some dire warnings amid the nation’s trade war with China.The report — “By the Numbers: Jeopardizing the National Benefits of Trade Through America’s Busiest Port Complex” — was released on Tuesday, Nov. 12, and concluded that the tariffs now in place on shipments threaten nearly 1.5 million U.S. jobs and more than $186 billion of economic activity nationwide. Read more here.
CANADA BUSINESS – GOVERNMENT UPDATES
Brexit saga continues: Preparing your business for the various outcomes
edc.caBrexit is back in the limelight—again. Just a few days before the official Oct. 31 deadline, the European Union has agreed to extend the Article 50 exit process for the United Kingdom until Jan. 31, 2020. Read more here.
INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
Blockchain conversations need to focus on value to get C-suite buy-in
freightwaves.comBlockchain expert Dr. Mary Lacity, director of the Blockchain Center of Excellence at the Walton School of Business at the University of Arkansas, said increasing deployment of blockchain in businesses will coincide with a shift in how blockchain is presented to executives. Read more here.