WEEK 36 MARKET UPDATE

PORTLAND TERMINAL 6 AID ‘URGENTLY’ NEEDED, REPORT SAYS  

A maritime shipping coalition led by the Port of Portland is asking the state for money to keep Oregon’s only  international container terminal running while it searches for a private operator for the money-losing facility. Calling container shipping through Terminal 6 “essential” to state businesses, the port and stakeholders on Aug. 23 presented a plan to Gov. Tina Kotek calling for public investment in the terminal and outlining how to maintain the facility’s services while the port continues to seek a private operator, known as the landlord model. The port said it has negotiated new rates with the container shipping companies serving T6 along with labour efficiencies with the ILWU and reduced fees with Harbor Industrial, the terminal’s container stevedore. Both short- and long-term investments from the state would reduce the unspecified financial loss facing the Port in the next year, enabling it to continue working toward operational stability. The proposed funding must be approved by legislators in September and during the 2025 Legislative Session. 

CANADIAN TEAMSTERS FILE 4 SEPARATE LEGAL CHALLENGES TO APPEALS BOARD 

Canadian Teamsters filed four separate challenges on Thursday in the Canadian Federal Court of Appeal challenging the labour minister’s order for binding arbitration and the Canada Industrial Relations Board decision to stop the lockout and work stoppage. There are two challenges for each railroad. This latest legal manoeuvre comes after the labour union vowed to challenge the ruling. The CIRB originally ordered the railroads and labour to appear Thursday for a scheduled meeting on the arbitration process, but due to a scheduling issue with one of the attorneys, the CIRB agreed to  reschedule the first meeting. Union officials tell American Shipper they are confident the law is on their side and the appellate court will allow the unions to bargain with the railroads in a traditional manner versus arbitration. The union is arguing its constitutional charter rights were violated and is asking for a ruling to be made in an expedited manner. 

sea port

MSC SHIP LOSES 46 CONTAINERS OVERBOARD IN SOUTH AFRICAN STORMS  

The South African Maritime Safety Authority (SAMSA) the Liberian-flagged MSC Antonia lost 46 containers overboard while a further 305 boxes suffered damage in the Indian Ocean corridor on 28 August. “The incident occurred  approximately 29 nautical miles northeast of Port St. Johns while the vessel was enroute from Colombo to New York. Considering the container loss, a navigation warning has been issued to all vessels operating in the affected area,” SAMSA said in a statement. The 13,000 teu CMA CGM Belem sought safe harbour in the Port of Ngqurha following the incident and has since been making load adjustments. On Friday last week, the ship’s insurer representatives in South Africa launched a five-hour aerial surveillance and search for the vessel’s lost containers after several sightings of floating containers along the Wild Coast area of the Eastern Cape province were reported to the authorities. The incident with the CMA CGM Belem came just a month after the CMA CGM Benjamin Franklin lost 44 containers  overboard off the coast of South Africa while sailing round the Cape of Good Hope. All three vessels in recent incidents were on voyages between Asia and Europe and transiting the Cape of Good Hope due to the security situation in the Red Sea.  

Houthis Step Up Attacks After Denying Iran’s Statement Last Week of Pause  

Several vessels have come under attack from the Houthis after the militant group denied last week a statement from Iran that there would be a pause to salvage the burning Greek tanker Sounion. The Houthis have vowed not to interrupt the salvage effort but said they would continue targeting other ships. Today’s primary target appears to be a Greek owned, Panama-registered shuttle tanker transiting south in the Red Sea. The vessel, Blue Lagoon I (148,533 dwt) reported being hit by two projectiles which were later confirmed to be missiles. The tanker was displaying a message on its AIS saying it was carrying a Russian-origin cargo and coming from the Russian terminal of Ust-Luga on the Baltic Sea. This latest wave comes as unconfirmed reports from Greece said the salvage efforts of the Sounion commenced midday on Monday, September 2. The reports indicated three warships from the EUNAVFOR Aspides operation are positioning to protect the Sounion and two tugs were due to arrive at the burning tanker later in the day on Monday. The tow is expected to proceed slowly with the speculation being that they will go to Djibouti, but for security reasons, few details are being released. 

0 Comments

Your email address will not be published. Required fields are marked *