Anchor Logistics Services

NRF: Latest Tariffs Are Too Great a Gamble for US Economy The latest wave of tariff increases, unveiled by U.S. President Trump earlier in May, could bee too great of a gamble for the U.S. economy, according to the National Retail Federation. The Trump administration released a list of USD 300 billion of Chinese goods that will be targeted by additional tariffs of 25 percent.... NRF voiced its support of the administration’s efforts, but said that the latest tariff escalation is far too great a gamble for the U.S. economy. Slapping tariffs on everything U.S. companies import from China goods that support U.S. manufacturing and provide consumers with affordable products will jeopardize American jobs and increase costs for consumers, Matthew Shay, NRF President and CEO, said. Working with our allies who share the same concerns and immediately rejoining TPP are more effective ways to put pressure on China without hurting hardworking Americans. We urge the U.S. and China to get these critical negotiations back on track. Both sides will lose in a full-blown trade war, and the global economy will suffer, Shay continued. NRF said that a study commissioned by Tariffs Hurt the Heartland and prepared by Trade Partnership estimated that imposing tariffs of 25 percent on all remaining imports from China, combined with the impact of retaliation, would jeopardize more than 2 million American jobs, cost the average U.S. family of four USD 2,300 each year and reduce the value of U.S. GDP by 1 percent.

9 Surprising Facts About the Worldwide Shipping Industry How do the goods of the world travel from one place to another? Despite technological advancements and the propagation of a globalized economy, a surprising 90% of everything still comes and goes on a ship by sea. The shipping industry may be one of the oldest in the world, but the global economy would not exist without shipping containers. This underscores the notion that it is still one of the most important industrie...Continue reading

Higher Volumes, Freight Rates Drive Hapag-Lloyd’s Earnings Up Hapag-Lloyd containershipzoom Illustration. Source: Pixabay under CC0 Creative Commons license German shipping major Hapag-Lloyd closed the first quarter of 2019 with a significantly higher operating profit.... The company said that earnings before interest and taxes (EBIT) increased to EUR 214 million for the period, compared to EUR 51 million reported in the same quarter a year earlier. The group net result was at EUR 96 million, against a net loss of EUR 34 million seen in the first quarter of 2018, while EBITDA surged to EUR 489 million from EUR 216 million reported in the previous year. Thanks to higher transport volumes, better freight rates and a stronger US dollar, we achieved a good result and got the year off to a very decent start, said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd. Revenues in the first quarter increased to EUR 3.1 billion, representing a change of by 17% compared to EUR 2.6 billion collected in the first quarter of 2018, while transport volume rose by 2% to 2,929 TTEU from last year’s 2,861 TTEU. The average freight rate improved to 1,079 USD/TEU, and the result was also positively influenced by a stronger average exchange rate of 1.14 USD/EUR. In contrast, higher bunker prices of USD 425 per tonne, against USD 372 per tonne seen a year earlier, had a negative impact on the quarterly result. We are cautiously optimistic about 2019 despite slightly dampened forecasts for global economic growth and higher fuel prices. Q1 was in line with our expectations and we believe we can make further progress towards our strategic objectives throughout the rest of the year as we continue to roll-out and implement our Strategy 2023, Jansen added.

Shipowners Seek to Slow Services to Meet Emissions Limits ‘Slow-steaming’ plan divides maritime operators, with critics calling it a smokescreen that will delay cargo deliveries and investment in cleaner vessels Some shipowners want to avoid the financial impact of investing in new fuel and equipment to meet environmental targets by simply slowing ships down. ...Continue reading

The process of shipping a container from one point to another includes a number of factors, some of which are demurrage and detention. These are a matter of allowed free-days, determining the number of days a shipper can use the container for free. If this free time is exceeded, a user has to pay a demurrage and detention charge, usually calculated per day. World Maritime News spoke to Florian Frese, Director of Marketing at xChange, a Germany-based startup focusing on reposi...Continue reading

Macquarie Gets a Foothold in U.S.-Asia Ocean Trade Australian investment group’s $1.78 billion purchase of a major gateway in Southern California comes with $9 billion in guaranteed revenue over the next 20 years Macquarie Infrastructure Partners has an important piece of financial support in its bid to build up its role in U.S. shipping....Continue reading