From the desk of Captain Jeff Monroe, MM, AMPE
US LNG EXPORTS TO EUROPE INCREASE
U.S. exports of liquefied natural gas (LNG) have been growing steadily and reached a new peak of 4.7 billion cubic feet per day (Bcf/d) in May 2019, according to the latest data published by the U.S. Department of Energy’s Office of Fossil Energy. This year, the United States became the world’s third-largest LNG exporter, averaging 4.2 Bcf/d in the first five months of the year, exceeding Malaysia’s LNG exports of 3.6 Bcf/d during the same period. The United States is expected to remain the third-largest LNG exporter in the world, behind Australia and Qatar, in 2019–20.
CANADIAN TRADE SURPLUS REVERSES
New data this week expected to be posted soon is expected to show Canada’s trade balance has gone from a surplus to a deficit. According to a Bloomberg survey, analysts are expecting a $300 million CAD ($228 million USD) deficit for June after a surplus in May. Gross domestic product figures for May, due in a separate release Wednesday from Statistics Canada, are expected to show a monthly expansion of just 0.1%. Canada posted a trade surplus in May as non-energy export volumes jumped over 4.4%, the most since 2015, driven primarily by motor vehicles, which can change rapidly.
WHAT SHAPE ARE YOUR TARIFFS IN?
An information check among IAMPE alumni indicates that many tariffs (also known as “schedules”) that are being used by ports have not been fully updated in several years. In addition, very few ports have separate terminal rules and regulations posted as an extension of their tariff. Smaller coastal and inland ports were among those whose tariffs have not had comprehensive reviews in several years. “We just mostly bump up our rates annually,” said one port director. He also noted that their tariff contained wordy provisions and special charges for livestock, despite having not handled livestock in many years. New tariffs have many new provisions regarding protections for ports. Ports and terminals that only have rate sheets and lack comprehensive protections face potential significant liability when dealing with customers. The IAMPE will be offering a 2-day comprehensive workshop on tariffs in Portland, Maine and at Cal Maritime in Vallejo. Participants should bring a copy of their tariff to mark up. To register contact email@example.com.