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Logistics News

• COSCO Shipping Holdings 2021 Net Profit 89.3 Billon CNY

  On March 30, COSCO SHIPPING Holdings Co., Ltd. announced its 2021 annual results. During the reporting period, the operating income was 333.69 billion CNY, a year-on-year increase of 94.85%; the net profit attributable to shareholders of the listed company was 89.296 billion CNY, a year-on-year increase of 799.52%.

  Logistics News March 31, 2022
• Recent Performance of Shipping Stocks in 2022

  The geopolitical situation will change the flow of global trade in the coming period, which will have a huge impact on the direction of shipping stocks. In the past month, shipping stocks have seen sharp fluctuations, more than the overall level of the stock market. Randy Givens, an analyst at investment bank Jefferies, said that part of the reason is that the industry is stuck in a supply chain impasse, and it is difficult to say how the future trade pattern and route planning will change.

  Logistics News March 30, 2022
• An Oil Tanker Explodes in Thailand's Chao Phraya River

  At 13:40 on March 27, near the second bridge of Phra Chula in the middle of the Chao Phraya River in Samut Prakan, a product oil tanker named "AMPAR 8 BANGKOK" exploded, and thick smoke was heard at the scene. The accident killed one person.

  Logistics News March 29, 2022
• Philippines Announces of 13 New Ports for Global Trade

  According to Philippine media "Daily Inquirer" reported on March 22, the Philippine Ports Authority (PPA) said that with the recovery of maritime demand and the recovery of global trade, at least 13 new ports in the Philippines are expected to start operations by July 2022.

  Logistics News March 28, 2022
• US Trade Reinstating Certain Section 301 China Tariff

  ​On March 23, local time, the Office of the U.S. Trade Representative (USTR) issued an announcement saying that in response to the tariffs imposed on Chinese imports under the so-called "Section 301", tariff exemptions for some products have been restored, involving 549 pending products. 352 items, including industrial components such as pumps and electric motors, some auto parts, some chemicals, backpacks, bicycles, vacuum cleaners and other consumer products.

  Logistics News March 28, 2022
• Fire in Walmart's 1.2 Million Square Foot Warehouse in The US! Goods Burned to The Ground and Delivery Vehicles Were Heavily Damaged

  At noon on March 16, a fire broke out at a 1.2 million-square-foot Walmart warehouse (distribution center) at 9590 AllPoints Park Avenue near Indianapolis International Airport, sending thick smoke.

  Logistics News March 18, 2022
• Port of Los Angeles/Long Beach CTF Fee Starting April 1

  The Ports of Long Beach and Los Angeles will levy a Clean Truck Fund (CTF) fee ($10 for 20-foot container and $40 for 40-foot container) on trailer containers entering and leaving the container terminal on April 1. The toll was approved by the Los Angeles Port Authority in early November.

  Logistics News March 26, 2022
• ONE to Acquire 6,500 New Reefer Containers, Reefer Container Demand Expected to Continue Growing This Year

  On March 18, ONE made an announcement that it plans to add 6,500 reefer containers to meet the growing demand for transportation. The plan was made based on ONE's optimistic expectations for the future of the reefer market, and the company expects demand for reefer containers to continue to grow this year.

  Logistics News March 22, 2022
• Evergreen Container Ship Runs Aground for a Week Not Yet Out of Trouble.

  The evening of March 13, local time, the 12,000TEU-class container ship "Ever Forward" ran aground in the Chesapeake Bay shortly after leaving the Port of Baltimore, United States. The ship, which was originally scheduled to sail to the port of Norfolk, Virginia, was travelling at a normal speed of 12 knots before the incident, and the cause of the accident is not yet known.

  Logistics News March 21, 2022
• Canada's CP Rail Workers On Strike, Freight Transportation is Paralyzed

  The already tense trade supply chain due to the new crown epidemic and the Russian-Ukrainian conflict will be further pressured by the Canadian Pacific Railroad (CP Rail) labor dispute that hinders freight shipments. Trains have been suspended as thousands of Canadian Pacific Railroad (CP Rail) workers are on strike since Sunday morning. This may lead to the impact of material delivery and supply across the country.

  Logistics News March 21, 2022