News

Your latest in freight, transportation, logistics and regulatory updates.

Canada and Panama Committed to Improving Trade Ties

The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that Canada will move quickly to reintroduce implementing legislation for the Canada-Panama Free Trade Agreement.

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Slow Steaming Contributes to Modal Shift

Shippers are adapting to slow steaming by ocean carriers, but want carriers to share savings through better pricing and improved customer service reports American Shipper. An April survey of 290 logistics executives around the world, conducted by Philadelphia-based logistics company, found only half believe the economic and environmental benefits of slow steaming are worth the cost and inconvenience to shippers and their customers.

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FIATA Reminder to Use Incoterms Correctly

Incoterms came into existence in 1936 as a series of sales terms, published by the ICC for use in international commercial transactions. Incoterms are reviewed approximately every ten years to ensure that they relate to current world trade practices. One thing to remember is that Incoterms do not get automatically superseded by a new edition.

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Global Container Traffic Hits All Time High

The Journal of Commerce reports that global ocean container traffic reached an all-time high of 560 million 20-foot equivalent units in 2010, driven by surging volume at Chinese ports, according to a report by Alphaliner.

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BCMEA and ILWU Negotiation to Resume February 22

The BCMEA has provided the following update on Friday February 18, following the week long disruption in negotiations. The negotiations on a new contract between the International Longshore and Warehouse Union Canada and the B.C. Maritime Employers Association have been stalled since late last week after employers accused cargo-handlers of a deliberate slowdown in production which in their (employers) view was an illegal work to rule campaign.

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More Than 40 Pirates Arrested in One Week

The Indian Navy and Coastguard captured a group of 28 pirates after a failed hijacking last Thursday, just days after another band of 15 pirates, who had been terrorizing shipping for months, had been arrested reports IFW. Officers said the 28 pirates had surrendered 185km off Kavaratti, in Lakshadweep, in the early hours of 6 February after warning shots were fired at the group.

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