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Tag: Freight

Brexit stockpiling cited for surge in ferry freight demand

Brexit stockpiling cited for surge in ferry freight demand

Business
A major ferry operator has chartered an extra ship to cope with surging demand for freight in the run-up to the end of the Brexit transition period.Stena Line, which transports 65% of the freight moving between Northern Ireland and Great Britain, said businesses in the province were particularly anxious to stock up in case of supply disruption from 1 January. The Northern Ireland Protocol - part of the Brexit Withdrawal Agreement - kicks in from that date and sees Northern Ireland remain in the EU single market for goods to remove the need for a hard border between the UK and Ireland - an EU member state. Please use Chrome browser for a more accessible video player ...
Fares, freight rates to be rationalised: Railway Board chairman

Fares, freight rates to be rationalised: Railway Board chairman

Finance
NEW DELHI: The railways is in the process of "rationalising" its passengers and freight fares, Railway Board Chairman VK Yadav said on Thursday. He, however, refused to say if the prices will be increased. In a media briefing, Yadav said although the railways had initiated a number of measures to counter its dwindling revenues, increasing fares was a "sensitive" issue and it had to be discussed at length before a final decision was taken. "We are going to rationalise the fares and freight rates. Something is being thought about. I cannot divulge more, this is a sensitive subject. While the freight fares are already high, our target is to draw more traffic from road to railways in this regard," he said. The Indian Railway has been hit hard by the economic slowdown, with the earnings of the ...
Cross-Channel freight trade 'could drop by 87%' under 'no-deal' Brexit

Cross-Channel freight trade 'could drop by 87%' under 'no-deal' Brexit

Business
Cross-Channel freight trade could drop by between 75% and 87% for six months in the event of a "no-deal" Brexit, according to a Border Force document obtained by Sky News. The estimate comes as part of an internal assumption for no deal contingency plans.A slide from an internal Government presentation marked "Official-Sensitive" and titled "Freight Traffic Contingency Assumptions" is a recent internal assessment much of which was omitted from public No Deal documentation. It reads: "The reasonable worst case flow through the Short Straits is reduced to between 13% and 25% of current capacity for a period of between 3-6 months."This is a reference to traffic from Dover-Calais and in the Channel Tunnel. NEW:Sky News obtains Border Force conti...
Brexit ferry firm Seaborne Freight 'will get no money upfront'

Brexit ferry firm Seaborne Freight 'will get no money upfront'

Business
A UK firm contracted to provide extra ferries in the event of a no-deal Brexit will only be paid if it runs "an effective service", the Department for Transport (DfT) says.Seaborne Freight was awarded £13.8m recently to run a freight service between Ramsgate and Ostend.But a BBC investigation discovered it had never run a ferry service before.Seaborne is contractually required to prove it can deliver on its promises, according to the DfT.On Sunday, the DfT stood by the firm, saying it had "carefully vetted the company's commercial, technical and financial position" before signing the deal. Seaborne, together with Brittany Ferries and Danish shipping firm DFDS, were awarded a total of £102.9m over the last few months to provide additional ferri...