Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Freight Collusion


Freight Collusion

The good folk from our shipping companies are again busy colluding against importers. Representatives from Maersk, Malaysian International Shipping Corp, NYK, P&O Nedlloyd, Pacific International Lines and Tasman Orient Line had a get-together and decided to increase their prices by US$150 per 20' container on all shipments coming from Singapore, Malaysia, Thailand, Indonesia and Vietnam from 1 July. They decided that this was necessary "in order to bring the current freight rates to more realistic levels" and labelled it a "Rate Restoration." The Importers Institute congratulates the shipping companies involved for their creativity in coining a new euphemism for blatant price-rigging.

* * *

Big Retail Conference

The 11th Asian Retailers Convention and Exhibition (ARCE) is a biennial Convention of Asian Retailers Associations from Australia, Brunei, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Fiji.

For the first time, the convention is going to be held in New Zealand. It will be hosted the New Zealand Retailers Association in Christchurch later this year.

There will also be an Exhibition, held in conjunction with the Convention. It will provide the biggest opportunity that New Zealand manufacturers and service providers have had, or ever will have, to meet with CEOs and buyers from leading Asian general merchandise chains and supermarkets from North, South and Southeast Asia. For more information, go to http://www.asianretailers.org

* * *

Container Track & Trace Survey Lincoln Ventures, New Zealand - based Supply Chain Systems Group, was contracted by the Asia-Pacific Economic Co-operation Forum (APEC) to undertake the APEC Transportation Working Group project 'Sea and Air Container Track and Trace Technologies: Analysis and Case Studies'. The project is overseen by the Department of Transport and Regional Services of Australia.

The purpose of the project is to assess the relative strengths and weaknesses of the range of container track and trace technologies. Project outcomes will benefit organisations and companies in various aspects of supply chains, including shippers, freight forwarders, importers, exporters, shipping companies, airlines, road and rail freight operators, sea and air ports, customs and other border regulatory agencies.

The Importers Institute invites members to take a 15 minute on-line survey at http://www.lvl.co.nz/apec

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>

Statistics: Annual Wage Inflation Rises To 3.4 Percent
Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, while average ordinary time hourly earnings rose 6.4 percent, Stats NZ said today... More>>

ALSO:

APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>


Financial Markets Authority: Survey Sheds Light On New Zealanders’ Experiences With Financial Sector
Most New Zealanders are confident in their ability to make financial decisions, but only one-fifth say they are in a secure financial position... More>>


ASB: Latest Trade Disruption Report: Low Export Demand And High Import Prices Look Set To Continue

After a strong initial recovery from the effects of COVID-19 in 2021, New Zealand is likely to feel the impact of slowing global trade well into 2023, according to ASB’s latest Trade Disruption economic report... More>>