Beacon - International Despatch Limited

Newsletter Jan2010
Created by John on 1/18/2010

Beacon International Despatch Ltd - Newsletter January 2010

Beacon International Despatch Ltd. - Newsletter

January, 2010

SHIPPERS MAY FACE HIGHER RATES IN 2010 AS SPACE GETS TIGHT

Th“Logistics Management” reported that the active capacity of the world's leading ocean cargo carriers dropped by 2.4% over the last 12 months.

According to a new report issued ASX-Alphaliner, capacity management has become the key to restoring the industry to profitability in 2010. "Although the total operated fleet of the top 20 carriers increased by 1.6% since 2009, the effective capacity dropped due to an increase in the idle fleet," said analysts.

Analysts added that the combined capacity of the "Top 20" carriers reached 10.81 million twenty-foot-equivalent units (TEU) on 1 January 2010 compared to 10.63 million TEU in 2009. The idled capacity of these carriers currently stands at 743,000 TEU; representing 6.9% of the carriers' operated fleet. The idle capacity for these carriers was 328,000 TEU or 3.1% of their fleet on 1 January 2009.

NEW ELECTRONIC FILING REQUIREMENTS FOR GST/HST REGISTRANTS
The Canadian government announced proposed changes to electronic filing requirements for goods and services tax/harmonized sales tax (GST/HST) registrants beginning July 1, 2010.

Currently, only GST/HST registrants who meet the criteria set by the Minister of National Revenue have the option to use electronic filing. As a result of the proposed changes, restrictions will be removed so that all registrants, including those registrants that file a return with Revenu Québec, will be able to file electronically. Full details at:
http://www.cra-arc.gc.ca/nwsrm/rlss/2010/m01/nr100104-eng.html

CANADIAN INTERNATIONAL MERCHANDISE TRADE NOVEMBER 2009
Canada's merchandise exports increased 1.1% in November on the strength of energy products, while imports rose 3.9% due to widespread gains.

As a result, Canada's trade balance with the world went from a surplus of $503 million in October to a deficit of $344 million in November. Exports increased to $31.6 billion in November, marking the fifth increase in six months, as prices rose 1.1% and volumes remained unchanged.

Energy products were the main factor behind the gain in November. Excluding energy products, exports fell 0.3%. Imports increased by $1.2 billion to $31.9 billion in November, almost offsetting the declines of the previous three months. The rise in imports represented the third monthly gain in 2009, as volumes increased 2.7% while prices rose 1.1%.

Most import sectors posted gains, with automotive products, machinery and equipment, and energy products accounting for the bulk of November's increase. The exception was industrial goods and materials.

Exports to the United States rose 2.0% while imports, which increased 3.8%, accounted for almost two-thirds of the gain in overall imports. As a result, Canada's trade surplus with the United States narrowed to $3.2 billion in November from $3.5 billion in October.

PORTUGAL: STATE OF EMERGENCY IN TEN PROVINCES- EUROPE ROADS IN CHAOS
Icy temperatures are currently crippling Portugal. A state of emergency has been declared in ten of the nation's provinces.

Meteorologists say that the traffic could grind to a halt, as it will continue to rain and snow heavily this week. Depression "Daisy" unleashed blizzards across most parts of Europe over the weekend. Many roads were flooded or had to be closed on Germany's Baltic Sea coast, where dykes threatened to burst.

Italy and Spain also reported flooding. Spain suffered the heaviest snowfalls for 25 years.