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Asia-Pacific

Commentary: Tariffs are terrible taxes

FreightWaves features Market Voices – a forum for market experts with unique knowledge from numerous transportation sectors and other critical expertise. Anything that inhibits trade, in the long run, results in lower prosperity for everyone globally. Tariffs, between the U.S. and its trading partners, represent one of the worst forms of taxation for several basic …

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Port Report: China’s massive growth in ocean box shipping and over-the-road trucking

The scale and growth of China’s domestic over-the-road and international ocean container shipping trade has been revealed in new data from the country’s Ministry of Transport. Last year the country shipped 249.8 million twenty-foot equivalent shipping units (TEUs), which was a 5.3 percent increase on the previous year. The total weight of the cargo in …

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Port Report: Los Angeles port boss says workers must prep for future

The Port of Los Angeles saw May container volumes grow at their best year-to-date level since January, even as empty containers still account for most of the growth. To keep volumes going, the seaport’s employees will face a changing workplace in the coming years as new technologies improve cargo fluidity, the port’s executive director said. …

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Logistics park developer seeks US$1.24 billion in IPO

A major developer of, and financial investor in, Asia Pacific logistics parks has launched a potential US$1.24 billion initial public offer on the Hong Kong stock exchange . Hong Kong headquartered ESR expects dealings on the Hong Kong Exchange to being on Thursday, June 20, under the stock code 1821. The company is offering 560,700,000‬ …

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Walmart has work to do to hit its international ‘on time, in full’ targets

On time. In full. Not yet, at least as far as Walmart Inc.’s (NYSE:WMT) international delivery operations are concerned. In May 2018, the mega-retailer expanded to multiple international markets a program begun in the U.S. in July 2017 requiring that suppliers deliver full orders within “must arrive by” time windows (neither too early or too …

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Port Report: Los Angeles bakes in box slowdown for upcoming budget

The Port of Los Angeles expects cargo volumes to dip in the coming fiscal year due to the fall-off from last year’s front loading of containers and the potential impact of new tariffs. The slowdown underscores the growth slowdown that intermodal rail and trucking face in 2019 after last year’s big rush of freight from …

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Russia seeks to open its Arctic waters to world shipping

A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route (NSR). Although FreightWaves has made inquiries, few details are available at this time. It is hoped that the project will boost …

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Number of shipping casualties falls to century-long record low

The number of ships over 100 gross tons* lost at sea during 2018 fell to a record low of 46 vessels, according to data from global insurer Allianz . That’s a 53 percent decrease from 2017 when 98 ships were lost at sea. It was also the lowest number of losses in a century, Allianz …

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Commentary: How China Became the Largest Economy in the World

Experiencing the red dragon first-hand Ten years ago, I would likely have been studying and writing Chinese characters in my one-room apartment in Beijing, wondering how the students of China were able to do this much studying every night. After graduating from college in the spring of 2009, I chose to study abroad in China …

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Inspector-General – battling bugs nearly broke biosecurity border

Australia’s border biosecurity system was stretched “close to breaking point” and had “severe impacts on sections of the shipping and exporting industries” during the recent Brown Marmorated Stink Bug (BMSB) season, the country’s Inspector-General of Biosecurity has reported . Costs and delays in unloading ships and releasing cargo from biosecurity controls were “significant but unavoidable” …

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