Tariffs have no impact on Asian air cargo in August
August figures for air cargo in Asia have not been adversely affected by increased protectionism according to Andy Herdman, director general of Association of Asia Pacific Airlines (AAPA).
Traffic figures show that freight tonne kilometres increased by 4.2% year-on-year.
A statement from AAPA stated that: “Escalation in protectionist rhetoric and the imposition of new tariffs has so far had little real impact on trade flows, but adds an element of uncertainty for businesses reliant on integrated global supply chains.”
COSCO completes sea trials of giant boxship
A seven-day sea trial has been completed for COSCO’s new 20,000TEU container ship. The vessel was delivered to the shipping line by Waigaoqiao Shipbuilding.
The vessel is the third ship of this size to enter service for COSCO this year.
During the trials the the ship reached 22.66 knots during speed tests, exceeding the 22.5-knot speed requirement for the design of this type of ship.
US moving to close to trade deal with Mexico
The US is moving towards a trade deal with Mexico, despite differences with its other NAFTA partner Canada.
US Trade Representative Robert Lighthizer said at an event in New York, that negotiators can’t resolve their sharp differences over dairy and a dispute resolution system with Canada.
The Trump administration will present US Congress with a text of the US-Mexico trade agreement to revise portions of the North American Free Trade Agreement.