Australia-India Free Trade Agreement

Monday 4/04/22

Australian Prime Minister Scott Morrison said a trade agreement with India due to be signed on Saturday represented “one of the biggest economic doors there is to open in the world today”.

Morrison is expected to call a general election within days, and has been eager to secure the trade deal before campaigning began, having been in negotiations with India for a decade.

The Australia-India Economic Cooperation and Trade Agreement would be signed in a virtual ceremony by Trade ...

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Shanghai’s Lockdown Extended

Monday 4/04/22

China’s authorities are struggling with their latest battle with Covid-19. Having placed the eastern side of Shanghai, Pudong, into lockdown at the start of last week for what was planned to be five days, officials have decided to keep Pudong citizens in confinement, while the western side, Puxi, went into lockdown on April 1 as planned in the original two-stage zero-Covid crackdown strategy hatched last weekend.

Factories are shut as is all public transport. While the ...

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Evergreen Declares General Average on Grounded Ever Forward

Friday 1/04/2022

Following the failure to refloat the 12,000 teu Ever Forward this week, Evergreen announced, today that, with the increasing costs of the salvage operation, it had declared General Average.

The Ever Forward container ship ran aground in Chesapeake Bay on March 13 when it was headed from the Port of Baltimore to Norfolk, Virginia.

The ship has not been blocking any navigation, unlike its sister vessel, the Ever Given, which got stuck and blocked traffic for days ...

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Australian Depot Managers Say Free Box Storage Time is ‘unworkable’

Wednesday 30/03/22

Exasperated container depot operators in Australia have called on shipping lines to offer “more realistic” free storage.

Based near Sydney’s Port Botany, Price & Speed demands carriers respond to the “industry-wide” problem of insufficient free time, given the current market conditions of surging volumes and congestion.

Owner Kevin Malouf said: “The world is rapidly changing, and when multiple ships arrive at port, cargo volumes being processed at our depot are exasperated.”

He explained that Price & Speed had been running ...

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Shanghai shutdown – Factories Expected to Suspend Manufacturing

Tuesday 29/03/22

China’s biggest city Shanghai began a two-stage lockdown Monday as authorities attempt different strategies to maintain growth, while trying to control the country’s worst Covid-19 outbreak since the pandemic began.

The city of 25 million people will first lock down areas east of the Huangpu River, which includes its financial district and industrial parks, for four days starting on Monday. Then the lockdown will shift to the city’s west for another four days, according to a statement released ...

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Maersk Vessel Loses 90 Containers Overboard

Monday 28/03/22

Maersk has confirmed that its chartered vessel Dyros lost around 90 containers overboard in rough seas, in the North Pacific, around 1,200 nm east of Japan on Monday (21/03) , and the losses included nine boxes containing dangerous cargo.

The Costamare-owned 4,578 teu vessel was en route to Seattle from Yantian, but will now be diverted to another port to handle around 100 damaged boxes still on board.

Maersk said “We regret to confirm that the 4,578 teu, Liberia-flagged vessel Dyros, chartered ...

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Patrick Terminals Employees Vote up New Enterprise Agreement

Friday 18/03/2022

After two years of negotiation, the new Patrick Terminals Enterprise Agreement has been voted up by employees across all four Patrick terminals.
 
The new deal provides Patrick Terminals with increased operational flexibility to better meet customers’ needs and service the changing supply chain landscape. The new agreement provides Patrick Terminals with the right to recruit at their discretion without restrictive union quotas.
 
Michael Jovicic, CEO Patrick Terminals said, “We are pleased ...

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The Shenzhen Lockdown and its Impact on The Supply Chain

Tuesday 15/03/22

Shenzhen, a Chinese city and a major tech hub, was placed in lockdown on Sunday after an outbreak of COVID cases.

The lockdown is scheduled to last a week while health authorities administer COVID tests to the city’s 17.5 million residents and try to limit the virus’ spread. 

But apart from affecting the people of Shenzhen, who are dealing with more COVID cases and lost wages, supply chain experts say the impact of the lockdown will devastate global imports ...

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Maersk, CMA CGM and Hapag Lloyd Asked to Provide Rate Information to US Lawmakers

Tuesday 15/03/22

A.P. Møller Maersk, CMA CGM Group, and Hapag-Lloyd have been asked to provide documents and information to explain the reasoning behind increased shipping rates over the past two years, according to the House Committee on Oversight and Reform.

The Select Subcommittee on the Coronavirus Crisis and the Subcommittee on Economic and Consumer Policy sent the letter asking the carriers to provide requested documents and information by March 16.

Each letter states that the committees are concerned the carriers in question “may have engaged ...

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Shenzhen and Shanghai Imposes Restrictions As Covid-19 Cases Jump

Monday 14/03/22

Two of China’s largest cities, Shenzhen and Shanghai, imposed stringent restrictions on Sunday on the movements of their residents, as a Covid-19 outbreak continued to spread across China’s mainland despite their “zero tolerance” strategy.

“Zero tolerance” requires quarantines and lockdowns on entire communities and sometimes even cities when as few as a handful of cases have been detected. Chinese officials credit the approach — along with a vaccination rate of more than 80% — with helping prevent a ...

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