COMPANY NEWS

CARM Release 2 now has a draft implementation date

November 21, 2022 – The CBSA has confirmed that the CARM project Release 2 implementation date has been changed to October 2023. This will allow them time to ensure that all industry partners are on board.

Spot rates have increased slightly

November 14, 2022 – Spot container freight rates on the largest deepsea trades rebounded this week, despite continuing weak demand, suggesting recent capacity cuts have begun to reverse months of pricing decline. Ocean rates out of Asia were stable overall again this week – though Asia to U.S. and Canada west coast prices ticked up and are now level with prices in early October – suggesting the sharp drop-off that began this summer may be levelling out, as capacity is removed to meet falling demand.

China Lockdowns continue

October 18, 2022 – Zhengzhou has locked down one of its most-populated districts to tame a COVID-19 flare-up, with creeping restrictions throughout China underscoring the constant threat of disruption companies face while the country sticks to “zero COVID.” Almost 1 million residents of Zhongyuan District were ordered to stay at home starting on October 17, except for when they need to undergo COVID-19 testing, and non-essential businesses have been shut, a government notice said. The city in Henan Province reported six new local cases for Sunday, down from a recent peak of 40 on Oct 9. Nationwide, cases declined to 697, the lowest in two weeks, as outbreaks in Inner Mongolia and Xinjiang came under control. Beijing posted 13 new cases, and Shanghai had 32. China is sticking to the zero-COVID pillars of lockdowns and mass testing to tame its biggest flare-up in two months, despite the heavy cost. The policy has dragged on growth and roiled global supply chains as important manufacturing hubs contend with the disruption of shutdowns.

Air freight rates continue a downward trend

October 11, 2022 – Air freight rates worldwide are trending lower as the global economy starts to feel the bite of high interest rates and inflation in many countries. Although traditionally a peak season for shipping, the month of October is starting to show demand weakness just as more capacity comes into the market as more air carriers bring back their planes. For an update on the current rates, please contact our sales team for more information.

Labour shortage in Canada

October 3, 2022 – Statistics Canada counted a million unfilled positions in the second quarter, the most on record and double pre-pandemic levels. The unemployment rate dropped to about five percent, the lowest since at least the mid-1970s. Heading into the summer, essentially anyone who wanted a job could have found one, assuming they had the skills to match the positions on offer, or were up for some manual labour. Demographic forces are difficult to reverse, but the stakes are so high that it’s worth a try. The Canadian unit of Deloitte Touche Tohmatsu Ltd., the global auditing and consulting firm, estimates that all those unfilled positions represent the equivalent of more than $50 billion in lost economic output, a calculation based on applying gross domestic product per worker to the roughly 500,000 difference between current vacancies and the pre-pandemic average. “This is purely illustrative and likely represents the maximum potential cost to the economy, but it does drive home the point that labour scarcity and skills shortages could cost the economy tens of billions of dollars if left unaddressed,” Deloitte Canada said in a report published on September 29.

Golden Week in China

September 30, 2022 – Our customers and partners are advised that China is celebrating its Golden Week from October 1st to October 7th, 2022 and most office will be closed until October 10, 2022.

Atlantic Canada struggles to recover after historic storm

September 26, 2022 – Our thoughts and prayers are with the people in Atlantic Canada as they were hit with Hurricane Fiona over the weekend. Although most transportation and logistics operations are now slowly recovering, we ask for patience for pickups and deliveries in the area as we look to clean up and get back on track.

Trucking congestion in Toronto continues to be an issue

September 14, 2022 – The industry is currently facing constraints with the influx of containers coming into the Toronto rail terminals. Canaan Transport continues to try our best to assist our customers with their FCL deliveries however we are unable to guarantee any delivery times and or pick up times, due to long lines at the yards. Additional charges may apply for terminal waiting time, terminal storage, yard storages, demurrage and detention. Unfortunately, these items are out of our control. We will do our best to minimize these charges, but regret they must be passed along. If you have any concerns, please let us know.

US rail strike a real possibility

September 13, 2022 – The four largest U.S. railroads began limiting service Monday in preparation for a potential strike that stands to bring freight rail movement across the country to a halt. Norfolk Southern, Union Pacific, BNSF and CSX all announced they will issue embargoes on certain shipments beginning early this week. CSX, BNSF and Union Pacific all halted traffic of hazardous materials on Monday due to the threat of spontaneous labour action. Norfolk Southern and CSX said the embargoes were necessary to ensure that critical or even toxic freight is not left abandoned. If rail traffic in the US is paralyzed, there will be knock-on effects felt in Canada which will strain an already stretched rail supply chain.

UK dockworkers will go on strike soon

August 18, 2022 – More than 500 port workers at the Port of Liverpoolare set to strike, bringing another one of the UK’s busiest ports ‘grinding to a halt,’ the Unite trade union announced Monday. The strike, the timing and duration of which have not yet been determined, comes after workers at Peel Ports-owned Mersey Docks and Harbour Company (MDHC) voted overwhelmingly in favour of the strike in response to an “inadequate” 7% pay raise offer. This potential strike will have a severe impact on both shipping and road transport in Liverpool and the surrounding areas. This comes after more than 1,900 workers at the Port of Felixstowe, the UK’s busiest container port, are set to strike for eight days later this month after failing to reach a pay deal with Felixstowe Dock and Railway Company, a unit of CK Hutchison Holdings.