New regulation for regularization of financial operations between Argentina and Uruguay
Decree E/799
New regulation for regularization of financial operations between Argentina and Uruguay
Decree E/799
Ocean carriers are canceling large numbers of trips on more regular trade routes and at the time when demand should be at its highest peak of the year. It's all due to the consequences hitting businesses as inflation puts pressure on global trade and increases consumer spending.
The cancellations in October are radical changes from what happened just a month ago, where cargo space was lacking and rates maintained their upward trends and shipping companies continue to break profit records.
Just a year ago, companies such as Walmart Inc, Home Depot Inc rented their own ships to supply their markets due to the shortage of spaces that reigned in the services of the maritime lines, with prices so high that they justified taking these actions.
Currently, overseas crossings suffer a 70% drop compared to the same period last year. Demands continue to fall and retailers cancel their production orders because they have surplus stock in their inventories.
Fedex Corp has recently reported the cancellation of cargo flights, due to low demand.
Nike Inc reports having 65% more inventory in North America than the same period last year, which is estimated to reduce the prices of its products to reduce this impact.
From the closure of factories in China to the war in Ukraine have generated a very strong impact on international trade.
The International Monetary Fund must adjust its forecasts for global gross domestic product growth several times this year.
Consumer prices are rising in record time in the US, Europe and other parts of the world.
Source: WSJ
The level of the Paraná and Paraguay Rivers has been falling, affecting the navigability conditions and capacity of river vessels.
Taking this situation into account, the Paraguayan General Naval Prefecture issued resolution No. 55/2022 which restricts the draft of vessels for navigational safety in the Paraguay River.
As a consequence of this, the vessels are forced to reduce their cargo capacity in order to maintain regularity in the service.
The River Shipowners have announced the implementation of Low Water Surcharge (LWS), effective immediately.
Resolution No.: 55/2022
Montevideo, December 6, 2021
The specialized container terminal TCP and the port operator MONTECON decreed a STOP FOR AN INDETERMINED TIME in the Port of Montevideo.
THEREFORE, VESSEL OPERATIONS ARE MOMENTALLY CANCELED UNTIL FURTHER NOTICE.
The services affected by the union measures are centered within the conflict that they have maintained since the beginning of November with the Hapag Lloyd line, specifically the traffic from the South East coast of the USA and the Gulf of Mexico, included within the GS1 (New Orleans - Houston - Altamira - Veracruz -Cartagena - Suape -Santos - Buenos Aires - Montevideo).
We attach a reference link: https://www.hapag-lloyd.com/en/services-information/routes-trades/routes/route-finder.html/latin_america/north_america/GS1.html
From the company they criticized that the workers had not signed the agreement or expressed "interest" in doing so.
On October 12, after five days of suspended activity in the port of Montevideo, the Sindicato Único Portuario y Afines (Supra) and the Belgian company Katoen Natie (majority shareholder of Terminal Cuenca del Plata -TCP-) reached an agreement that put an end to the conflict between the two.
However, when it seemed that everything was closed and soon to turn the page, a new chapter was opened in the labor relations of both actors.
The pact was subject to ratification by the workers' assembly and the general management of TCP. However, after the agreement was signed but before this meeting was held, the Supra requested the Ministry of Labor (MTSS) and TCP that if the company did not assume an additional commitment “they would not present the signed agreement”, according to knew Montevideo Portal.
The new requirement consisted of granting 18 insured wages to another four employees of the workforce. TCP undertook to agree to the proposal once the collective agreement was ratified by the assembly.
“Although initially Supra informed the MTSS and TCP that the workers' assembly approved the collective agreement, when it was signed (including a numeral that reflects the commitment assumed by TCP to grant the wages to the four employees), the union did not sign the collective agreement.
As you know, the reason was that the Supra tried to include a change in the content of the collective agreement that had been agreed and that exceeded the commitment assumed by TCP. Once again, the union wanted to modify the agreement unilaterally, stating that, if it was not agreed to, it would not sign (it), ”criticized TCP in a letter.
Thus, until this Monday the union has not expressed its interest in signing the agreement. Therefore, the general management of TCP "had no choice but not to ratify the proposal," they indicated.
The measure was communicated to Supra delegates in a meeting between the two held at noon.
"As a consequence of the foregoing, it is stated that TCP and Supra did not reach an agreement regarding the points indicated in the minutes of September 30, 2021 and, therefore, the provisions established" in that instance are rendered ineffective.
The letter, signed by the general manager of Terminal Cuenta del Plata S.A./Nelsury S.A., Vincent Vandecauter, was addressed to the Minister of Labor and Social Security, Pablo Mieres; the undersecretary of the portfolio, Mario Arizti; and to the Single Port Union, to the delegates of the Supra Base Committee.
Source: Montevideo Portal
Obstacles in the toy industry supply chain could leave the Christmas tree without gifts
One of the sectors most affected by the problems in the supply chain in different and the congestion of the ports of Los Angeles - Long Beach (LA-LB) in the USA is that of toys. Manufacturers such as Hasbro and Mattel have been especially vulnerable given their dependence on imports from Asia.
"We're seeing [ocean freight] costs are more than four times what we've been experiencing," said Hasbro CFO Deb Thomas. In the case of Mattel, the increase in costs is due to a series of shocks in the maritime market, according to the firm's chief financial officer Anthony DiSilvestro. "During the [third] quarter, we experienced supply chain disruptions, including a shortage of shipping containers that was exacerbated by the temporary closure of a port in China and the temporary closure of plants in Asia in connection with shipping restrictions. Covid-19 ", he stated.
See More: Mundo Maritimo
| Festival | Holiday Time | Days |
|---|---|---|
| Mid-Autumn Festival | 19-Sep to 21-Sep 2021 | 3 days |
| National Day | 1-Dec to 7-Dec 2021 | 7 days |
| New Year | 31-Dec 2021 to 2-Jan 2022 | 3 days |
| Spring Festival | 31-Jan to 6-Feb 2022 | 7 days |
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