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Freightos makes air cargo e-booking free to all forwarders | Brazil Modal

Freight digitalisation specialist gives agents access to rates from more than 370 airlines, and real-time e-booking on select airline groups via WebCargo Sky platform.

In a move it describes as “digital air cargo goes mainstream”, freight digitalisation specialist Freightos is giving all freight forwarding agents free access to digital rates from more than 370 airlines and real-time e-booking on select airline groups via its WebCargo Sky platform.

It said instant air cargo pricing across 370 airlines “is now available to forwarders worldwide with the free WebCargo Sky platform, released earlier today to certified air freight forwarders”.

With WebCargo Sky, it said forwarders “can instantly price air freight shipments from nearly every global airline. In addition, they can book real-time capacity on key airlines including British Airways, Iberia, Air France-KLM, and Lufthansa”.

It added: “This makes for efficient booking, shaving days off transit time, reducing costs, and improving service for shippers.”

Since 2008, WebCargo has helped top forwarders automate rate management and back-office operations, Freightos said, with over 1,400 logistics providers already using its WebCargo Air product to access live pricing and e-booking, adding: “WebCargo Sky will make access to pricing available to any IATA-accredited forwarders for free.”

WebCargo CEO Manel Galindo commented: “Air cargo connectivity is at a tipping point and WebCargo Sky makes it accessible to any forwarder. As the industry’s most comprehensive e-Booking platform, Sky automates pricing from hundreds of airlines, even those without automated pricing, enabling industry-wide connectivity.”

Explaining the source of its data, Freightos told Lloyd’s Loading List that select airlines are providing live, real-time prices obtained via API, with IAG Cargo, Air France KLM, and Lufthansa all connected via API and supporting real-time booking capacity.

The source of the rate information for the rest of the 370 airlines is via email direct from airlines. “How we obtain the remainder is actually a strategic WebCargo differentiator,” she explained. “We manage rates from the remaining airlines for our 1,400 global logistics providers, in many cases automating the process of receiving them from airlines to make them accessible across our network of forwarders.”

Zvi Schreiber, CEO of the Freightos Group, commented: “By 2020, air cargo will routinely be priced dynamically and booked digitally. By providing WebCargo Sky for free to air forwarders, there are zero barriers for forwarders and airlines to communicate online through WebCargo. This will provide better service to air shippers, including capacity visibility on specific flights.”

Freightos said WebCargo Sky beta users report saving over one hour per salesperson per day, “reducing costs and enabling sales teams to focus on customer service. Meanwhile, airlines benefit from accessing the world’s largest online network of forwarders as a sales channel and reduce 85% of time spent managing sales. Ultimately shippers will benefit most with air cargo becoming more affordable and predictable.”


Source: Lloyd’s


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Solved: Given The MPS=0.40, With No Government Spending An…

given the MPS=0.40, with no government spending and no foreign
trade, a $10 billion dollar increase in investment will eventually
result in an increase in.

1. consumption by 40 billion spending by 15 billion spending by 25 billion spending by 2.5 billion


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Algoma Wraps Up Acquisition Deal with Oldendorff | Brazil Modal

Illustration; Image Courtesy: Algoma


As a result of the transaction, Algoma’s interest in the pool, that included three vessels owned by Oldendorff, has increased to around 40%.

The Handy-sized Algoma Verity (formerly the Alice Oldendorff) and the Panamax vessels Algoma Valour and Algoma Victory (formerly the Harmen Oldendorff and the Sophie Oldendorff, respectively) bring Algoma’s ocean going self-unloader fleet to eight vessels operating in the pool. The units were acquired at a price of USD 100 million.

“Deploying our capital to grow our position in the ocean self-unloader business is strategic and positions Algoma well for pool growth that we foresee in the years ahead,” said Peter Winkley, Chief Financial Officer of Algoma.

“We know this business and these ships well and with customer demand remaining strong, we believe this is a good time to increase our investment in a business that has generated strong returns for us in the past,” Winkley added.


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Stocks on track for best first half in 22 years

The fate of U.S.-China trade talks could play out in the week ahead, and that could set the tone for markets and the economy in the second half of the year.

Stocks set new highs in the past week, after the Federal Reserve signaled it was ready to cut interest rates if necessary, and Fed Chair Jerome Powell said trade and the global economy are two factors the Fed is watching.

The S&P 500 was on track, as of Friday, to score a more than 17.6% gain for the first half, which ends Friday. If it stays at that level that would be the best first half performance since 1997, when the S&P was up 19.4% in the first six months.

The big event in the coming week has been as anticipated for weeks, and it could sway sentiment for weeks to come. At the end of the week, the G-20 meets in Osaka Japan for meetings Friday and Saturday.

‘Could go either way’

President Donald Trump and Chinese President Xi Jinping are expected to have their own dinner meeting at the G-20 next weekend, following discussions between their trade representatives. That meeting could decide how trade negotiations go forward, and whether the U.S. proceeds with another round of tariffs, this time on $300 billion in goods.

“Everybody knows the Trump, Xi meeting could go either way,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “I think everyone expects a new tariff freeze. That the $300 billion won’t go into effect. The most you can hope for out of G-20 meeting is the tariffs are where they are right now, and there’s no more escalation.That also means China will not release the list of companies they won’t do business with.”

Chandler said he will be looking for signaling from Trump and Xi on whether they are working on a deal that would be just on the trade topics, or bigger issues like North Korea and differences on the South China Sea.

“I do think the G-20 is quite important in that there’s not question in recent months, the trade war started to really move into measures of confidence and measures of manufacturing activity,” said Ethan Harris, head of global economics at Bank of America Merrill Lynch. Harris said he expects a positive message with an agreement of no further escalation, but probably not signs of significant progress. “I think the vibes coming out of it will be modestly positive,” he said.

“Whether there’s an escalation to the next round of China tariffs is going to set the theme for the rest of the year. Even if tariffs on China are reversed, or partly reversed, at some point, every time there’s an escalation or temporary escalation, it’s another kind of blow to confidence,” he said.

Harris said there’s the same risk as after the Trump, Xi meeting at the last G-20, where it was a positive tone but there was little progress afterwards and the markets then reacted negatively.

“I think there’s been this broad increased awareness from every economist that the trade war is starting to have noticeable impact. Further escalation with China would be quite a big signal. If the Trump administration puts tariffs on all the Chinese products it roughly doubles the size of the trade war and it sends a very strong message that there are very few constraints on where [Trump] goes next,” he said.

Powell and data

Besides the meeting between Trump and Xi, the market focus will be on anything that could provide clues on what the Fed or even the European Central Bank will do, after ECB President Mario Draghi last week basically promised a new era of easing. Consumer price inflation data is expected for the euro zone, and on Friday, the U.S. personal consumption expenditure data is released, including the PCE deflator, a major inflation indicator for the Fed.

There are also a few Fed speakers, including Powell who speaks at the Council on Foreign Relations Tuesday.

“It’s probably going to be a big picture kind of talk about the broader challenges of the Fed,” said Ethan Harris, head of global economics at Bank of America Merrill Lynch. “They’re certainly going to ask questions about political influence at the Fed, and he’s going to dodge those. I think what I’m waiting for him to comment on is what it is they’re looking for to determine whether they’re going to cut in July or not.”

Harris said Powell is not likely to say anything he did not reveal at his press briefing in the past week, and the big focus will be on the lead up to the weekend G-20.

Falling interest rates and rising oil prices were two big factors in the market int he past week. The 10-year Treasury yield dipped briefly below 2%, a near 3-year low, as the Fed signaled its willingness to cut interest rates.

“Should we get some sort of trade agreement that would be a nice pop to the [stock] market, but that could take the rate cut off the table,” said Sam Stovall, chief investment strategist at CFRA.

Stovall said the stock market will also be watching oil after its rapid run higher, and the events in the Middle East surrounding Iran. West Texas Intermediate futures were up more than 9% in the past week, to $57.43.

“The old adage is every $10 increase in the price of oil takes off 20 to 25 basis points off of real GDP growth,” he said.

Stovall said stocks have had a solid run so far this year, but they may face some rocky times between now and the end of the summer. “For the rest of this ‘sell in May’ period we could be facing some challenges, headwinds. I think we’ will still end higher on the year. I think the seasonally optimistic September to November period will kick in but there will be a lot of challenges…will the Fed be cutting rates? what are the growth prospects?” he said.

What to watch


8:30 a.m. Philadelphia Fed

8:45 a.m. New York Fed President John Williams

9:00 a.m. S&P/Case-Shiller HPI

9:00 a.m. FHFA home prices

10:00 a.m. New home sales

10:00 a.m. Consumer confidence

12:00 p.m. Atlanta Fed President Raphael Bostic

1:00 p.m. 2-year note auction

1:00 p.m. Fed Chair Jerome Powell at Council on Foreign Relations

3:30 p.m. Richmond Fed President Tom Barkin


8:30 a.m. Durable goods

8:30 a.m. Advance economic indicators

1:00 p.m. 5-year note auction


8:30 a.m. Initial claims

8:30 a.m. Real GDP

10:00 a.m. Pending home ales

1:00 p.m. 10-year note auction


8:30 a.m. personal income

9:45 a.m. Chicago PMI

10:00 a.m. Consumer sentiment


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Egypt Opens New Multipurpose Terminal at Damietta Port | Brazil Modal

The terminal includes a 630-meter-long, 17-meter-deep berth and is equipped with a backyard area of 50,000 square meters with anticipated capacity of about 4 million tons per year.

It has been established under the supervision of the Armed Forces Engineering Authority (AFEA) and implemented by a number of Egyptian national companies.

The completion of the works at the new terminal in Damietta Port were revealed by the country’s Minister of Transport, Engineer Kamel Al-Wazir.

Al-Wazir highlighted a number of project advantages such as being equipped with all necessary facilities to serve ships and cargoes including seawater firefighting pumps, rainwater drainage, facilities for feeding ships with fresh water and supplying ships with electricity within OPS technique as well as oil and waste reception facility from ships.

“This terminal will contribute to reduce vessel waiting time outside the port, increase cargo handling volumes, encourage further ship with bigger sizes and types, and buttress storage capacity inside port area,” Al-Wazir said.


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Job Description – Foreign Trade Analyst

Eaton's Power System division is currently seeking a GTM Analyst to join our team. This position is based at our Querétaro facility. Making what …


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Frontline, BSM Tankers in Suspected Attack in Gulf of Oman | Brazil Modal

llustration; Source: Pixabay under CC0 Creative Commons license

The product carrier Kokuka Courageous, operated by BSM Ship Management (Singapore), suffered damage to the starboard side. The company said that a full-scale emergency response was launched after the incident and the vessel’s crew of 21 abandoned ship.

“The master and crew abandoned ship and were quickly rescued from a lifeboat by the vessel Coastal Ace, a nearby vessel,” BSM said in a statement.

“One crew man from the Kokuka Courageous was slightly injured in the incident and is receiving first aid on board the Coastal Ace.”

The 27,000 dwt Kokuka Courageous remains in the area and is not in any danger of sinking, the company said, adding that the cargo of methanol is intact. The vessel is about 70 nautical miles from Fujairah and about 14 nautical miles from the coast of Iran.

The Coastal Ace is in the vicinity at a safe distance from the damaged ship and is awaiting instructions from the UK Marine Trade Operations which is responding to the incident.

The second tanker that was attacked in the Gulf of Oman is the 110,000-dwt LR2 Front Altair, owned by Norwegian company Frontline.

Norwegian newspaper VG cited a company spokesperson as saying that the vessel suffered a fire following the incident. All 23 crew evacuated the ship and were rescued by a nearby vessel, the Hyundai Dubai.

Taiwan’s CPC Corporation informed that the extent of damage aboard the ship and the oil leak after the suspected attack are yet to be confirmed.


Source: World Maritime News


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Foreign Companies Can List on a Chinese Stock Exchange for the First Time

For the first time, overseas companies are being allowed to list on a Chinese stock exchange—though none have as yet said they are ready to take the …


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India bans imports of solid plastic waste | Brazil Modal

However, in view of ongoing industrial activities in such units and to ensure smooth compliance of the norms, a window of six months i.e. up until August 31, 2019 may be provided to the units of SEZ and EOU’s. During this period, such units may be allowed to import plastic scrap subject to clearance from local trade authorities.

July 10, 2019 will be the cut-off for acceptance of these type of shipments i.e. containers should be gated in full by July 10, 2019 and would need to be accompanied by a Letter of Indemnity (LOI) in favor Hapag-Lloyd issued by the exporter. No further bookings can be accepted after this date.

Import clearance and other formalities such as validity of documents and licenses required remain the liability of Importers and we as a shipping line will not be able to verify the authenticity or validity of such documents.


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Lessons from an old trade war: China can learn from the Japan experience

If history is a mirror to the future, the similarities between the spiralling technology stand-off between China and the US and the economic wars waged …


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