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.TOP NEWS
Canada-US trade war won't help oil sector, natural resources minister says during Keystone XL debate
CBC.ca
Canada's natural resources minister accused the Opposition of beating their chests in a show of support for the oil and gas industry, during an emergency debate in the House of Commons regarding the Keystone XL pipeline expansion project Monday evening.
"Do we, as some are suggesting, start a trade war with our closest ally and largest trading partner, with the single largest customer for Canadian crude? ... I have not yet heard a single argument that would convince me a trade war is in the best interests of our oil and gas workers," Seamus O'Regan said.
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.RAIL
Rail traffic for the week ending January 23, 2021
AAR
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending January 23, 2021.
For this week, total U.S. weekly rail traffic was 529,030 carloads and intermodal units, up 9 percent compared with the same week last year.
Total carloads for the week ending January 23 were 230,979 carloads, down 0.7 percent compared with the same week in 2020, while U.S. weekly intermodal volume was 298,051 containers and trailers, up 17.8 percent compared to 2020.
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Canada approves CN's proposed Milton Logistics Hub project
Progressive Railroading
Canadian government officials announced last week they've approved CN's proposed Milton Logistics Hub project in Milton, Ontario, subject to 325 conditions.
The project, which would include a railway with more than 12 miles of track, is expected to reduce overall regional emissions for certain pollutants, including greenhouse gas emissions, by transitioning freight from trucks to train shipment.
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Quasar is an end-to-end supply chain optimization platform that enables the management and cost control of the supply chain for shippers. It’s a fully cloud enabled and digital platform designed to automate manual effort in tracking assets, as well as provide data and insights into how to optimize the supply chain from “order to cash.”
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Canadian crude-by-rail exports surge 87 percent to 170,000 BPD in November
The Toronto Star
Canadian exports of crude oil by rail jumped 87 percent in November as oil production rose in Western Canada amid limited pipeline capacity for heavy crude.
The Canada Energy Regulator says rail shipments of oil amounted to 173,000 barrels per day, up about 80,000 bpd from 92,800 barrels per day in October.
That's down from 302,300 barrels per day shipped by rail in November 2019.
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CN 4Q20: 'Strong Finish to a Challenging Year' (Updated, Cowen)
RailwayAge
"While the recovery remains uneven across the markets we serve, we are pleased by the momentum in volume demand that grew during the fourth quarter and continues to grow," CN President and CEO JJ Ruest reported during the railroad's quarterly earnings announcement on Jan. 26.
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CN among top 10 'most sustainable' corporations
Progressive Railroading
CN was ranked the 10th most sustainable corporation in the world on the Corporate Knights 2021 Global 100 Index.
CN is the only railway company included on the list this year, CN officials said in a press release.
To determine the ranking, Corporate Knights analyzed companies against global industry peers on key performance indicators covering resource management, employee management, financial management, clean revenue and investments and supplier performance.
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For CP, '4Q20 Momentum' to Build in 2021 (Updated, Cowen)
RailwayAge
"Despite the continued COVID-19 impacts, volumes steadily improved over the second half of 2020 and we saw revenue ton-mile growth in the fourth quarter," Canadian Pacific (CP) President and CEO Keith Creel reported Jan. 27 during the railroad’s quarterly earnings announcement.
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.TRUCKING
TFI to acquire UPS Freight for $800M
Freight Waves
TFI International has agreed to acquire UPS Freight for about $800 million, the Canadian trucking and logistics company and UPS said recently, in a deal that will transform it into a North American less-than-truckload juggernaut.
The deal, expected to close in the second quarter, will represent TFI's largest acquisition to date in sheer dollars, dwarfing the $558 million it spent to buy CFI from XPO in 2016.
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Pennsylvania truckers object to bridge tolling plan
Transport Topics
The Pennsylvania Department of Transportation is moving forward with its controversial plan to consider charging tolls — possibly $1 or $2 — on as many as 10 major bridges in the state.
But representatives from the trucking industry told the state Senate Transportation Committee tolls would hurt their industry.
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.AIR
Transport Canada Update: Air-cargo and mail security requirements
Transport Canada
Enhancements to the Transport Canada Air Cargo Security Program will come into force Feb. 1, 2021. These enhancements will require that only secure cargo and mail be transported on both passenger and all-cargo international and transborder flights. Cargo is deemed as secure if it has been screened by either an Air Carrier or by a Program Participant who is approved by the Air Cargo Security Program.
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Supply-demand imbalance continues to vex air cargo shippers
Freight Waves
The new year is off to a hot start for the air cargo market with no sign of cooling off. International transport activity typically softens following the holiday peak season, but demand and rates remain elevated because of unusual shipping patterns and a severe shortage of airlift triggered by the coronavirus pandemic.
And logistics companies don't expect air cargo volumes to subside before the Chinese New Year because manufacturers plan to continue operating without a traditional break.
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Plans for tighter COVID restrictions in Hong Kong threaten airfreight xref to KLM
The Loadstar
One of the most important global airfreight gateways is facing the spectre of tighter measures that could have a profound impact on cargo capacity.
According to a report in the South China Morning Post, the Hong Kong government is looking to implement measures next week that include a mandatory 14-day quarantine for airline crews.
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Air cargo market trends for the past 5 weeks
WorldACD
Trends based on appr. 250,000 transactions per week. WorldACD publishes weekly data for hundreds of markets, the largest market based on data > 170 forwarders, the smallest on data for > 20 forwarders.
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.MARINE
Hapag-Lloyd's earnings 'significantly higher' despite uncertainty of 2020
Freight Waves
Hapag-Lloyd issued its preliminary 2020 results on Wednesday and said earnings were "significantly higher despite the coronavirus pandemic." In fact, earnings before interest, taxes, depreciation and amortization (EBITDA) were some $900 million higher than in 2019.
The German shipping line reported 2020 EBITDA of $3.1 billion, up from $2.22 billion the year before.
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Shipping container crunch shows signs of easing, index shows
AJOT
A global shortage of shipping containers that's sent ocean freight rates skyrocketing shows signs of easing, according to an index that tracks the steel boxes used to transport 90 percent of the global trade in goods.
The Container Availability Index developed by Hamburg, Germany-based Container xChange should stay around 0.35 to 0.38 through Chinese Lunar New Year in mid-February, the online platform said in a statement.
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Biden underscores support for Jones Act
Freight Waves
President Joe Biden asserted "strong support" for the Jones Act as part of a "Made in America" executive order he plans to sign.
"The President will continue to be a strong advocate for the Jones Act and its mandate that only U.S.-flag vessels carry cargo between U.S. ports, which supports American production and America's workers," according to a summary of the order.
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