[Freightos Weekly Update] Baltimore bridge collapse likely to have some regional impact

AJOT | March 27, 2024 | Air Cargo | Freighters | Maritime | Liner Shipping

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Titanic law helps ship owner limit liability in bridge collapse

Bloomberg | March 27, 2024 | Maritime

The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims after the accident sent vehicles plunging into the water and threw the eastern US transportation network into chaos.

Turkey’s Pegasus will keep 737s, drops plan for all-Airbus fleet

Bloomberg | March 27, 2024 | Air Cargo | Airlines

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Japan really wants to build airplanes, $33 billion project shows

Bloomberg | March 27, 2024 | Air Cargo | Airlines

Japan’s trade ministry wants to get the country’s aviation ambitions back up in the air.

France delays new EU-Canada trade deal vote after Senate setback

Bloomberg | March 27, 2024 | International Trade

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Gap in China’s soybean trade casts doubt on data reliability

Bloomberg | March 27, 2024 | International Trade | Commodity

Doubts over the reliability of China’s economic figures are swirling again — this time in soybean trade as the world’s top importer has been publishing data that are increasingly diverging from other estimates.

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El Nino may see first S. Africa white-corn import since 2017

Bloomberg | March 27, 2024 | International Trade | Commodity

South Africa may import significant amounts of white corn, used to make a staple food, for the first time since 2017 as the El Nino weather pattern withers the crop, the chief economist for the main farming business association said.

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Five ways to team up and deter supplier fraud

AJOT | March 27, 2024 | Logistics | Supply Chain

According to the author, Costas Xyloyiannis, CEO of HICX the supplier experience platform, “Finance can, together with procurement, spot and address the weaknesses in its fraud-fighting strategies." Costas has helped C-suite execs for 20 years to strengthen their supplier information and therefore fraud strategies. In this article he offers finance leaders five steps to creating a safer supplier landscape.

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Six presumed dead after bridge collapse, as port disruptions hit cars to coal

Bloomberg | March 27, 2024 | Intermodal

The 1.6 mile-long bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks.

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London insurers face Baltimore bridge payouts worth billions

Bloomberg | March 27, 2024 | Ports & Terminals

Insurers face claims of as much as $3 billion following Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore, with firms on the Lloyd’s of London market most exposed, Barclays Plc analysts said.

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China’s Sinochem buys first oil cargo from Canadian pipeline

Bloomberg | March 27, 2024 | Energy

China’s Sinochem Group has purchased one of the first crude cargoes that will be shipped through a new Canadian pipeline that’s designed to move more oil from landlocked Alberta to the Pacific Coast for export.

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Ørsted selected by U.S. Department of Energy to receive industrial decarbonization funding

AJOT | March 27, 2024 | Energy | Alternative | Green Shipping

Selection will help advance Ørsted’s e-methanol facility in Texas, decarbonize hard-to-electrify maritime sector, and create U.S. clean energy jobs in new industry

Port of Richmond seeks upgrade and new business
Maritime
Stas Margaronis | Top Story | March 26, 2024

AJOT Insights
Port of Richmond seeks upgrade and new business

The Northern California Port of Richmond plans investments to improve its infrastructure and enhance its car, bulk, and liquid bulk shipping businesses, according to Charles Gerard, Director, Port of Richmond...
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Baltimore bridge fallout to extend coast-to-coast in cargo shift

Bloomberg | March 26, 2024 | Ports & Terminals

The bridge collapse Tuesday that shut the Port of Baltimore and closed a major highway will cause weeks or months of transportation disruptions in the Mid-Atlantic region and accelerate a shift of cargo to the US West Coast as importers and exporters try to avoid potential bottlenecks at trade gateways from Boston to Miami.

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Biden says US should pay to rebuild downed Baltimore bridge

Bloomberg | March 26, 2024 | Ports & Terminals

President Joe Biden said the US government ought to pay to rebuild a major bridge in Baltimore that collapsed Tuesday, and called on Congress to approve the funds.

Sanctions “Yet to curtail Russia with any compelling effect.”
Energy
Stuart Todd | Top Story | March 26, 2024

AJOT Insights
Sanctions “Yet to curtail Russia with any compelling effect.”

Last month both the European Union and US once again stepped up sanctions against Russia in retaliation for its invasion of Ukraine in February 2022.

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