Newsletter – May 15, 2019

OCEAN FREIGHT

Five Ocean Carriers Join Digital Container Shipping Association

maritime-executive.com
Five ocean carriers have joined the Digital Container Shipping Association (DCSA) as members: CMA CGM, Evergreen Line, Hyundai Merchant Marine, Yang Ming Marine Transport Corporation and ZIM Integrated Shipping Services. Read more here. 

Prince Rupert Port Authority Container Terminal Master Planning Confirms Potential to Develop in Excess of 6 million TEUs of Capacity, Second Terminal identified as Next Phase of Development

rupertport.com
PRINCE RUPERT, BRITISH COLUMBIA – The Prince Rupert Port Authority (PRPA) announced today the completion of a container terminal master plan that outlines the potential of future container terminal capacity and sequencing of development at the Port of Prince Rupert. The planning work identifies the long-term potential to develop 6 – 7 million TEUs of capacity through the development of multiple terminals at the Port of Prince Rupert. Read more here. 

Yang Ming sets up Indonesia unit

splash247.com
Taiwanese containerline Yang Ming has announced that it will form a new subsidiary with partners in Jakarta. Read more here. 

CANADA BUSINESS – GOVERNMENT UPDATES

Ontario raising speed limits on three highways to 110 km/h for pilot program

canadianshipper.com
Toronto, ON — Ontario will be raising speed limits to 110 kilometres an hour on sections of three 400-series highways as part of a pilot program that could lead to limits being increased across the province. Read more here. 

INTERNATIONAL BUSINESS GOVERNMENT UPDATES

China’s retail sales growth slumps to 16-year low as trade war risks rise

reuters.com
BEIJING (Reuters) – China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates. Read more here.