BDP Trendwatch: Biden, European allies to announce more sanctions on Russia; Shenzhen charters freighter to reduce Hong Kong border snags; Evergreen hires firm that saved the day at Suez to free ship

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Biden, European allies to announce more sanctions on Russia

President Biden plans to join with allies in announcing further sanctions on Russia at a meeting in Brussels on Thursday, national security adviser Jake Sullivan said.

“He will join our partners in imposing further sanctions on Russia, tightening the existing sanctions to crack down on evasion and to ensure robust enforcement,” Mr. Sullivan said Tuesday.

Mr. Sullivan didn't offer details on what he said would be a joint announcement, but said it would focus on new sanctions as well as cracking down on sanction evasion.

Mr. Sullivan said Mr. Biden, during the trip, would work with U.S. allies “on longer-term adjustments to NATO force posture on the eastern flank.”

The Wall Street Journal

Shenzhen charters freighter to reduce Hong Kong border snags

Shenzhen, China, launched a chartered air freight service to neighboring Hong Kong as the pandemic has constrained cross-border trucking capacity, according to a report from state news agency Xinhua on Sunday.

A Boeing 767 freighter will fly six times a week through the charter service, which is initially planned to last until early April, per Xinhua. The service began Saturday, with a freighter operated by SF Airlines transporting 45 metric tons of cargo, including exports, to Hong Kong.

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Evergreen hires firm that saved the day at Suez to free ship

Evergreen Marine Corp. has hired the company that freed the giant container ship Ever Given last year when it ran aground for almost a week, disrupting global trade for months, to do the same with its vessel stranded near the U.S. capital.

The Taiwanese carrier has enlisted Donjon-Smit LLC to free the Ever Forward, the vessel that’s been stranded in the Chesapeake Bay near Baltimore since Sunday night, Evergreen said in a emailed statement Friday. The salvor is a joint venture between Donjon Marine Co. and Smit Salvage Americas Inc., a subsidiary of the Netherlands-based company responsible for ending the six-day saga at the Suez Canal last March. The firm was also hired to help out with the vessel that caught fire carrying roughly 4,000 luxury cars in Europe last month.


POLA, POLB again push back consideration of container dwell fee to March 25

The Port of Los Angeles (POLA) and the Port of Long Beach (POLB) said late last week that they have again postponed the implementation date for their ocean carrier Container Dwell Fee, which will now not be considered until March 25.

This follows previous joint announcements by POLA and POLB, whom collectively account for roughly 40% of United States-bound import volumes, indicating that consideration of the fee would be pushed back each week going back to the week of November 22, 2021.

Going back to when the fee was initially rolled out on October 25, POLA and POLB said that the ports have seen a cumulative 62% decline in the amount of aging cargo on their docks, a tally which has trended up going back to the initial announcement of this fee.

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U.S., U.K. strike trade deal to end tariffs on British steel and American whiskey

The U.S. and U.K. struck a trade accord Tuesday that will remove U.S. tariffs on British steel and aluminum, while the U.K. will lift levies on American whiskey, motorcycles and tobacco.

Biden administration officials said the agreement with the U.K. will allow the U.K to ship “historically-based sustainable volumes” of steel and aluminum products to the U.S. without levies imposed under the former Trump administration.

In exchange, the U.K. will lift retaliatory tariffs on more than $500 million worth of U.S. exports to the U.K., including distilled spirits, farm products and consumer goods.

The Wall Street Journal