Cargo trade routes are changing amid trade war, says SATS CEO

A reconfiguration of cargo routes is underway as the trade war between the U.S. and China spills over globally, a logistics industry executive said on Friday.

“We’ve definitely seen an impact in certain trade routes,” said Alex Hungate, president and CEO of airport ground-handler and catering solutions provider SATS.

Listed on the Singapore Exchange, SATS operates in over 60 locations and 13 countries across Asia and the Middle East.

  • Publisher: CNBC
  • Date: 2018-11-09T00:05:39-0500
  • Author: Author link
  • Twitter: @CNBC
  • Citation: Web link

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Quite a lot has been going on:

Is the Arctic set to become a main shipping route?

Back in the 19th Century there was a race to map and navigate the Northwest Passage through the Arctic Ocean as a shortcut between the North Atlantic and North Pacific.

Explorers would take ships up Greenland’s west coast, then try to weave through Canada’s Arctic islands, before going down the Bering Strait between Alaska and Russia.

The problem was that even in the summer the route was mostly blocked by impenetrable ice. On one of the best-known expeditions – that of the UK’s Sir John Franklin in 1845 – all 129 crew members perished after their two vessels got stuck.

Today, more than 170 years later, a warming Arctic means that the route is increasingly accessible for a few months each summer.

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Afghanistan Opens Air Trade Corridor with China

Afghan President Ashraf Ghani and senior Chinese diplomats attended the special ceremony Monday in Kabul, hoping the air corridor will lead to increased Afghan exports of dry and fresh fruits to Chinese markets and address a massive trade deficit.

During the past year, Afghanistan has launched air corridors with India, Turkey, Kazakhstan, Saudi Arabia, and Indonesia.

A presidential statement said 20 tons of pine nuts will be exported daily to China until the end of the season this year. Beijing is one of the largest importers of Afghan pine nuts.

Afghan officials estimate the air corridor would enable them to transport 23,000 tons of pine nuts annually to China, earning up to $800 million in revenue.

  • Publisher: VOA
  • Author: Ayaz Gul
  • Twitter: @voanews
  • Citation: Web link

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Giants need change, but don’t trade Madison Bumgarner

The Giants took a bold step into the future Tuesday, hiring Farhan Zaidi as their president of baseball operations. Considering that he comes from the Dodgers’ organization, he’s not likely to feel much sentiment toward mainstays of San Francisco’s glory years.

Let’s hope he makes an exception for Madison Bumgarner. If I’m a Giants fan, I don’t want him going anywhere.

In picking up Bumgarner’s club option for the coming season, the Giants set themselves up for a Bumgarner trade. There are no long-term obligations or burdensome financial terms. His new team, if there is one, can determine Bumgarner’s immediate future in the game.

  • Publisher:
  • Date: 2018-11-07T04:36:57+00:00
  • Author: Bruce Jenkins
  • Twitter: @sfchronicle
  • Citation: Web link

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(S:1) #1541755117


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