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Inside Logistics
Bob Ballantyne, president of the Freight Management Association of Canada (FMA), has been chosen as the association's Supply Chain Executive of the Year in 2020.
"Bob has demonstrated a long-term commitment and sustained leadership in the transportation and logistics industry in Canada throughout his long career. The Board felt that there is not a more worthy recipient of the 2020 Supply Chain Executive of the Year than Bob in recognition and in honour of his achievements," said Gary Fast, vice-president, transportation, Canadian Tire, and FMA chair.
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BNN Bloomberg
Global trade is staging what the United Nations termed a "fragile recovery," as economies battered by the pandemic claw their way back to full activity.
UN trade body UNCTAD’s assessment for the latter half of 2020 was shared by the chief executive officer of Swiss freight forwarder Kuehne + Nagel International AG, which recorded sea freight volumes in September that were close to the previous year’s level.
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AAR
The Association of American Railroads reported U.S. rail traffic for the week ending October 17, 2020.
For this week, total U.S. weekly rail traffic was 518,763 carloads and intermodal units, up 2.2 percent compared with the same week last year.
Total carloads for the week ending October 17 were 226,828 carloads, down 7.5 percent compared with the same week in 2019, while U.S. weekly intermodal volume was 291,935 containers and trailers, up 11.3 percent compared to 2019.
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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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Progressive Railroading
Canadian Pacific yesterday announced a strategic, multiyear agreement with A.P. Moller-Maersk to move freight through the ports in Vancouver and Montreal in Canada.
The agreement is in addition to CP's agreement with Maersk, announced Sept. 15, to build and operate a transload facility in Vancouver, British Columbia, to expand the railroad's and Maersk Canada's supply chain options for customers.
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American Shipper
Mexico-based Caxxor Group is seeking investors for a proposed North American trade corridor aimed at connecting the Mexican Pacific Coast with the United States and Canada through a new rail corridor.
Dubbed the United States-Mexico-Canada Agreement (USMCA) Corridor, the proposed new trade route would require building a logistics terminal in Winnipeg, Canada, and expanding the shipyard at the Port of Mazatlán in Mexico. The new logistics terminals would handle containers, automobiles, bulk commodities and petroleum products.
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Progressive Railroading
CN yesterday reported third-quarter 2020 revenue fell 11% to CA$3.4 billion compared with the same period a year ago due to lower volumes across most commodity groups.
The Class I reported Q3 diluted earnings per share of CA$1.38, down 17%, and operating income of CA$1.4 billion, down 15%. CN posted an operating ratio of 59.9%, up from 57.9% in Q3 2019.
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Progressive Railroading
Canadian Pacific announced it will acquire full ownership of the Detroit River Rail Tunnel for $312 million under an agreement with OMERS, the Ontario benefit pension plan.
CP previously owned a 16.5% stake in the tunnel through a partnership with OMERS. The Class I will continue to operate the 1.6-mile tunnel linking Windsor, Ontario, and Detroit. The tunnel acquisition will reduce railroad's operating costs related to movements through the tunnel, CP officials said in a press release.
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Progressive Railroading
Viterra Inc. announced it will open a new grain elevator in Biggar, Saskatchewan, that will be served by Canadian Pacific.
The new facility will have a storage capacity for 34,000 metric tons and will be equipped with a loop track for rail loading.
Construction will begin immediately and is slated for completion in early 2022, Viterra officials said in a press release.
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Progressive Railroading
Canadian Pacific reported third-quarter 2020 revenue decreased 6% to CA$1.86 billion, diluted earnings per share (EPS) fell 1% to $4.41 and adjusted EPS dropped 11% to $4.12 compared with the same period a year ago.
The Class I posted an operating ratio of 58.2%, up from 56.1% in Q3 2019.
Operating income declined to CA$779 million from CA$869 million, while net income fell to CA$598 million from CA$618 million. Operating expenses dipped to CA$1 billion from CA$1.1 billion.
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American Shipper
The third-ranking Democrat in the House of Representatives is asking four cargo airlines to return more than $630 million they received in emergency funding to keep workers from losing their jobs during the coronavirus pandemic, saying they aren’t entitled to the money because cargo business is roaring.
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Lloyd's Loading List
Freight and logistics sources are reporting strong rises in air freight prices on major lanes out of China and other parts of east Asia, as surges in demand meet continuing constrained capacity.
And the rises in air freight spot market prices are particularly crucial currently, because most capacity out of key Asian freight hubs is now being sold at spot market prices, freight sources confirm, with the market's usual long-term capacity and pricing arrangements largely dispensed with this peak season due to the exceptional circumstances this year that have led to the majority of passenger belly freight capacity being cancelled due the Covid-19 crisis.
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Fleet Owner
The first documented idea of an autonomous car was introduced in the New York World's Fair in 1939 in the Futurama exhibit as part of General Motors' vision of the future of America in 20 years. Nearly 70 years later, we are well on our way to an autonomous future with the goal of making driving safer and more efficient for all. In fact, scientists predict that self-driving cars will greatly reduce — if not completely eliminate — car accidents in the near future.
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Axxess International Inc.
The Port of Halifax is well on its way to restoring normal fluidity at its two container terminals arising from additional volume in recent weeks brought on by industrial action in Montreal and a surge of imports.
On October 5th and October 12th, two vessels lifted out 1,800 diverted containers back to the Port of Montreal. This alleviates congestion at both terminals, and allows more intermodal imports and exports to flow as usual by rail.
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Lloyd's Loading List
Supply chain disruption due to container rollovers at leading Asian transhipment ports eased marginally for shippers in September compared to August but remained far higher than the same period last year at most hubs, according to Ocean Insights, a leading real-time and predictive ocean container tracking data provider to freight forwarders and shippers. And early indications for October suggest that significant rollovers and subsequent supply chain disruptions will continue deep into the fourth quarter.
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Supply Chain DIVE
Equipment shortages at U.S. ports and high container leasing prices are plaguing supply chains, as consumer spending shifts from services to goods and imports surge.
Multiple ports across the country reported record volume in September. U.S. ocean imports increased 15% YoY last month, according to Panjiva.
"This amount of cargo volume creates some supply chain complexities that must be dealt with on a daily basis," Port of Los Angeles Executive Director Gene Seroka said at a Wednesday press conference.
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gCaptain
Two of the world's leading global container carriers MSC Mediterranean Shipping Company and CMA CGM are now fully plugged in to the TradeLens blockchain-based platform.
The TradeLens platform was jointly developed by IBM and A.P. Moller – Maersk and launched in 2018. The platform uses blockchain technology to digitize manual and paper-based systems across the supply chain. Since its launch, the platform has grown to include more than 175 organizations, including ten ocean carriers and encompassing data from more than 600 ports and terminals.
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Freight Waves
Tender rejection rates continue to hover around all-time highs as carriers struggle to cover the recent freight boom, driving rates and revenues higher. The last time this occurred carriers rushed to purchase record amounts of equipment in 2018. But this time around, trailers are the equipment of choice over tractors.
This past Monday Alan Adler reported that preliminary trailer orders for September look to be the third-highest month in history, exploding to 52,000 units. This is part of a five-month trend of increasing dry van trailer orders that began in May of this year.
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JOC (Subscription required)
While Halifax was the best way station immediately available for Montreal-bound containers, it still lacks capabilities as an emergency valve for Canadian importers due to its remoteness from inland distribution networks, stakeholders say.
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American Shipper
The World Shipping Council (WSC) has filed an agreement with the U.S. Federal Maritime Commission (FMC) to ensure that its continued container shipping advocacy work complies with the 1984 Shipping Act.
WSC submitted the six-page agreement to the agency on Oct. 1. Without objection from the commission, it will become effective Nov. 15.
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The Loadstar
Shippers must become more accurate with their forecasting, say forwarders, particularly when it comes to air freight.
At a customer event yesterday, Flexport's head of air freight, Neel Jones Shah, urged shippers: "You need to plan ahead for 2021."
He added: "Forecasting tools have never been more critical. You don't have the luxury of air cargo capacity sitting on the sidelines, you have to get it right. And you need to ask your forwarder if it has the right mix of capacity available for you."
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American Shipper
"The ships are 100% full. The containers are 100% full. You can't get a container built. You can't pick up a ship from the spot market. The whole container-shipping cycle is at absolutely full pelt," exclaimed Jeremy Nixon, CEO of Ocean Network Express (ONE), the world's sixth-largest container line.
October's ocean container market is "unbelievable," said Nixon during an International Chamber of Shipping (ICS) virtual event last week. "We are sold out," he revealed.
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