Machinery Exports News

Canadian non-resource exports should post healthy gains this year, the country's trade financing agency said on Monday, a development the central bank is counting on to help revive an economy hobbled by weak global energy prices. Export Development Canada predicted the consumer goods, automotive and aerospace sectors would post double-digit growth in 2016 on the back of a robust U.S. economy. Industrial machinery exports should advance by 7 percent, it said. Overall exports are seen rising a modest 2 percent this year, held back by a 14-percent drop in the value of energy shipments. Canada is a major energy exporter and has been hit hard by slumping crude oil prices.

Risks faced by today’s global businesses represent a combination of traditional concerns and newer threats that reflect changing times. The 2015 Allianz Risk Barometer, a survey of more than 500 corporate insurance experts and risk managers from 47 countries, revealed that issues related to business interruption and supply chain risk, natural catastrophes, and fire and explosion continue to top annual rankings. However, cyber risks, which include cyber crime, IT failures, espionage and data breaches, along with political risks were the most significant movers.

Outstanding trade in agribulk and roll-on/roll-off cargo at the Port of Brunswick led to an impressive 47 percent increase in total tonnage for fiscal year 2013. “Our deepwater ports provide vital support to our agricultural, forestry and manufacturing sectors,” said Georgia Governor Nathan Deal. “Because American-made goods are able to reach the global market efficiently through Georgia’s ports, these products are more competitive in international trade. For the second year in a row…

The Georgia Ports Authority marked record volumes for fiscal year 2013 in total tonnage, bulk cargo, total auto-machinery units, and freight moved by intermodal rail. “Our deepwater ports provide vital support to our agricultural, forestry and manufacturing sectors,” said Georgia Governor Nathan Deal. “Because American-made goods are able to reach the global market efficiently through Georgia’s ports, these products are more competitive in international trade. GPA Executive Director Curtis Foltz said record levels achieved across important business sectors in fiscal year 2013 are a testament to the superior service enjoyed by the customers of the GPA.

The Port of Savannah, long the US east coast star for Asian imports, posted a 4.2 per cent decline in container volume in April year on year to 248,886 TEU, compared to 260,063 TEU the same period last year and 259,796 TEU in March. Georgia Ports Authority (GPA) executive director Curtis Foltz said a "very fragile US economic recovery and on-going consumer uncertainty for the balance of 2012" were the main reasons of the contraction. Conversely, roll-on and roll-off volumes at the GPA's Port of Brunswick grew 57.7 per cent year on year to a new high of 59,974 units. Mr Foltz said "the growing export market for vehicles and heavy equipment produced in Georgia and around the southeast" had driven the high volume boom.

The Export-Import Bank of China has agreed to lend $370 million to two state-owned conglomerates contracted to build five oil ships for Iran. The deal marks the largest loan yet by the Eximbank, which was founded in 1994 to help finance Chinese machinery exports. The loans to China Shipbuilding Industry Corp. and China Shipbuilding Trading Co. Ltd. reportedly carry export credit insurance worth $500 million. The contracts with Iran are China's first to build and export oil ships of the 300,000-tonnage size, marking a breakthrough for the domestic shipbuilding industry.