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Issue 8 2019 - FBJNA From the Editor


CONTACTS 2019 SALES


MATT WEIDNER Tel: + 1 610 486 6525 matt.weidner@fj-online.com


JOHN SAUNDERS - PUBLISHER Tel: +44 (0)151 427 6800 Mobile: +44 (0)7932 102026 john.saunders@fj-online.com


EDITORIAL


KAREN THUERMER-EDITOR karen.thuermer@fbj-online.com CONTRIBUTING EDITORS: PETER BUXBAUM MARK CALDWELL HANK DONNELLY JOHN JETER AMANDA LOUDIN


CIRCULATION info@fjna.com


ADVERTISEMENT PRODUCTION


LORRAINE CHRISTIAN Tel: +44 (0)151 427 6800 lorraine.christian@fj-online.com


ANDREA CAZZOLATO Tel: +44 (0)151 427 6800 andrea.cazzolato@fj-online.com


HEAD OFFICE


FREIGHT BUSINESS JOURNAL NORTH AMERICA 1468 ALTON WAY DOWNINGTOWN, PA 19335 USA Tel: + 1 610 486 6525


FREIGHT BUSINESS JOURNAL UK OFFICE


Tel: +44 (0)151 427 6800 Fax: +44(0)151 427 1796


Email: info@fjna.com Web: www.fjna.com


By Karen E. Thuermer


This fall FBJNA is celebrating five years. What a milestone! Many changes have occurred over this time. For starters, our first issue in Fall 2015 featured plans for testing the not yet opened locks at the expanded Panama Canal. Today, the Panama Canal has signed a Memorandum Understanding (MOU)


with one of the world’s largest ports -- the Port of Rotterdam and recorded in FY 2018 441,177 PC/UMS Net tons – the tonnage measurement system for the Panama Canal tolls assessment, the Panama Canal/Universal Measurement System (PC/UMS). This amount also includes the PC/UMS tonnage for full containership and passenger vessels. In that first issue, we also wrote about the Egypt Suez Canal Expansion. The


Suez Canal is the fastest shipping route between Europe and Asia. In August this year, the head of the General Authority for the Suez Canal


Economic Zone (SCZone) announced that revenues of the Suez Canal in FY 2018/ 2019 reached record levels – nearly US$6.5 billion. But in 2015, Reuters reported that the Suez Canal Authority expected $13.23 billion annually by 2023, and that in 2014, the Canal took in $5.3 billion. When this publication came into being in 2015, Barak Obama was president of


the United States and much buzz centered on a Trans-Pacific Partnership (TPP) – President Obama’s landmark proposed regional trade agreement between 12 countries in the Asia-Pacific and North America. These nations encompassed 40% of the world’s trade. The Peterson Institute reported back then that the TPP would boost US exports by $357 billion annually and by $1.025 trillion annually for all TPP countries. The US trade deficit in 2015 was US$745 billion with the US trade deficit


with China being US$365.7 billion, according to US Census Bureau figures. For 2018, Census pegged that figure at US$891.3 billion with the US trade deficit with China being US$419 billion, despite President Trump’s efforts to revive American manufacturing and reduce dependence on imported goods, including steel and other materials. Over the past five years FBJNA, itself, has celebrated its collaborative effort


with its UK counterparts and sister publication, FBJ. Circumstances in the UK have certainly changed since 2015. No one predicted then that the UK would vote to leave the European Union under what became deemed “Brexit.” Today FBJ’s editor, Chris Lewis, writes often about Brexit. While President Trump speaks of a UK-US Free Trade Agreement, many


see such an FTA as is just one of the many casualties of Brexit uncertainty. Observers state that negotiations have been subdued for the past two years and have failed to show any meaningful progress. In short, should the UK leave the EU without a deal at the end of October, World Trade Organization terms would govern US-UK trade until such time as a trade deal is agreed. And a US- UK “deal” will most likely be predicated on whether or not the UK abandons EU regulatory policies that block access to American poultry, pork, corn, rice and other farm products. Meanwhile, FBJNA focuses on US frustrations with China and securing a new


free trade agreement with our biggest trading partners Canada and Mexico under the new trade banner: USMCA. With on again/off again trade negotiations with China, it appears increasingly


unlikely that Trump will get his “big deal” with China. Both sides reported that working-level meetings were productive in mid-September, but the jury is still out whether or not October meetings result in another stalemate. Other notable news during our humble beginnings in 2015 was the fact the


United States restored scheduled air service with Cuba. Trade opportunities were short lived. Today, Trump restricts US travel and business with Cuba.


In early 2016, FBJNA reported on the inauguration of the 18,000 TEU


capacity CMA CGM Benjamin Franklin, the largest vessel ever to call on the United States. Today there are vessels that sail close to the 22,000 TEU mark. FBJNA also reported that Hanjin declared bankruptcy creating turmoil in global sea freight. Following that began a series of merges and acquisitions among shipping


giants. Reference: the Cosco-OOCL merger that created the world’s third largest shipping line, as well as the creation of ONE Line between MOL, K Line and NYK. Meanwhile, global container terminal operators and port authorities


focused then – as they do now – on challenges facing container terminals with seaports worldwide installing larger cranes, improved infrastructure such as on-dock rail, and faster automated and digitalized systems. Then there’s America’s own infrastructure challenges that are addressed under the America’s Transportation Infrastructure Act that authorizes $287 billion from the Highway Trust Fund over five years in investments to maintain and repair America’s roads and bridges. While trade issues will continue to override nearly all issues, this editor


predicts that climate change and environmental issues will become increasingly front and center. One indicator is the IMO mandate that calls for significant reductions in the sulphur content of fuel oil used by ships, starting this January. And look for more discussion and debate over Artic routes, which threaten both polar ice caps as well as control over the impending trade route. Kudos to CMA CGM for saying “no” to the Northern Sea route. Despite the challenges ahead – and cost -- good corporate citizenship (and


policy) where our Good Green Earth are concerned are needed for all of us to prosper.


FBJNA Celebrates 5 Years!


///NEWS


Freight Business Journal North America - FBJNA reaches out to the decision makers and influencers involved in international freight transport and logistics. FBJNA boasts the most informative and authoritative source of information with unrivalled in depth knowledge of the rapidly changing freight business environment. Our complimentary website www.fbjna. com provides the most up to date news and analysis from within the international shipping industry.


If you have any stories or letters which should be of interest or any feedback on FBJNA, please contact our editor Karen Thuermer - karen.thuermer@fbj-online.com


next issue >>


Our next issue will include features on: RO/RO, Stevedore & Terminal Operations, 3PL Quarterly: Trends in Warehousing, Trucking & Market Focus: Pacific Northwest. For further details contact: Matt Weidner - T: + 1 610 486 6525 E: matt.weidner@fbj-online.com


To guarantee your personal copy of FBJNA please register by visiting www.fbjna.com.


Total Circulation 12,275 circulation >>


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