January 13, 2020 – The downturn in U.S.-China trade is forcing ocean carriers to cancel a growing number of weekly sailings in the trans-Pacific trade lane, according to a container shipping expert. The cancellations point to a longer recovery in trade between the world’s two largest economies and augurs a poor start for U.S. ocean freight demand in 2020. At least 24 weekly sailings between Asia and the U.S. West Coast have been canceled in the first eight weeks of 2020, as reported by U.K.-based container research firm PR News Service. Those sailings represent about 198,000 twenty-foot equivalent units (TEUs) in capacity out of commission for the period. Service cutbacks are a seasonal phenomenon due to China’s Lunar New Year, which starts January 25 and ends January 30. Nine of the canceled sailings are occurring during that week.
January 9, 2020 – The seventh edition of the Harmonized System nomenclature used all over the world for the uniform classification of goods traded internationally has been accepted by all HS contracting parties and will come into force Jan. 1, 2022. According to the World Customs Organization, HS 2022 includes 351 sets of amendments covering a wide range of goods.
January 6, 2020 – The Canadian Food Inspection Agency (CFIA)’s Safe Food for Canadians Regulations (SFCR) came into force on January 15, 2019. Under the SFCR, new requirements apply to businesses and individuals importing food into Canada. As of January 15, 2020, an SFC licence is mandatory to import certain foods into Canada. Shipments without an SFC licence may experience delays or refusal of entry at the border, and importers may be subject to enforcement actions. This Customs Notice replaces CN 19-01 Canadian Food Inspection Agency (CFIA)’s Safe Food for Canadians Regulations (SFCR) coming into force on January 15, 2019.
December 25, 2019 – Canaan Transport would like to wish our partners, customers and team members a Merry Christmas and a Happy New Year!
December 23, 2019 – The weeks-long strikes over French President Emmanuel Macron’s new pension reform plan have disrupted commerce across France, and labour actions at seaports are now forcing alterations to at least some container services. The port disruptions include tug operator and dock strikes at Le Havre and Marseille, two of France’s largest cargo ports, according to various sources.
December 19, 2019 – When the Safe Food for Canadians Regulations came into force on January 15, 2019, importers were required to have a Safe Food for Canadians (SFC) licence to import food into Canada. Since then, the Canadian Food Inspection Agency (CFIA) has been using a graduated enforcement approach to help food business comply with the new regulations. Beginning January 15, 2020, if you import any of the following food commodities without a valid SFC licence to import, you may experience delays or rejection of your shipment at the border, and you may be subject to other enforcement actions:
· Meat products and food animals
· Fish
· Dairy products
· Eggs and processed egg products
· Fresh fruits and vegetables
· Processed fruit or vegetable products
· Honey products
· Maple products
For all other foods, you will require an SFC licence to import on July 15, 2020.
December 15, 2019 – The deal, announced on Friday after more than two and a half years of on-and-off negotiations between Washington and Beijing, will reduce some U.S. tariffs on Chinese goods in exchange for increased Chinese purchases of U.S. agricultural, manufactured and energy products by some $200 billion over the next two years. China has also pledged in the agreement to better protect U.S. intellectual property, to curb the coerced transfer of American technology to Chinese firms, to open its financial services market to U.S. firms and to avoid manipulation of its currency. The deal suspended a threatened round of U.S. tariffs on a $160 billion list of Chinese imports that was scheduled to take effect on Sunday. The United States also agreed to halve the tariff rate, to 7.5%, on a $120 billion list of Chinese goods including Bluetooth headphones, smart speakers and flat-panel televisions. The deal ultimately left 25% U.S. tariffs on $250 billion worth of Chinese imports.
December 9, 2019 – With less than one week to go before new punitive tariffs are imposed between the two countries, global trade is holding is collective breath over what will happen in the next week. As a recap, the US has already imposed tariffs of 15% on Sept. 1, in a list mostly of consumer products that includes flat panel television sets, flash memory devices, power tools, cotton sweaters, bed linens, multifunction printers and some footwear. China imposed its own tariffs on soybeans, beef, pork, seafood, LNG and whiskey. An additional round of 15% U.S. tariffs is also scheduled for Dec. 15. This list covers about $156 billion worth of total 2018 imports from China, based on U.S. Census Bureau data, and includes a wide range of other consumer goods, from plastic tableware and light-emitting diode lamps to clothing. If fully adopted, U.S. tariffs proposed and already levied will cover virtually all imports from China, worth about $550 billion, by Dec. 15. Needless to say, this will have an extraordinary effect on global trade.
December 4, 2019 – The Canada Infrastructure Bank announced it is committing up to $300 million in financing to the Port of Montreal’s project to build a new container terminal in Contrecoeur. The Canada Infrastructure Bank’s (CIB) financing demonstrates significant support for the expansion of the largest port in Eastern Canada, which must expand its activities to fully participate in national economic growth. This project will enable the port to meet the needs of the market in the coming decades. The Contrecoeur expansion will allow the Port of Montreal to increase its container handling capacity, according to Sylvie Vachon, president and CEO of the Port of Montreal. “We will be more competitive, which will strengthen Montreal’s role as a hub for maritime trade in Eastern Canada. This will support national economic prosperity through job creation and supply chain development,” she said.
December 2, 2019 – Air freight’s pattern this year of declining year-on-year general cargo demand continued in October, with worldwide air cargo volumes down 5% compared with the same month in 2018 – in line with the worldwide average decline in volumes of 5% for the year to date – according to figures from WorldACD Market Data. Average yields, in U.S. dollars, decreased by 11%, year on year and, as a result, overall revenues from air cargo in U.S. dollars were 16% lower.