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WEEK 49 MARKET UPDATE

UNION, EMPLOYERS RESUME WAR OF WORDS IN EAST COAST PORT CONTRACT DISPUTE  The war of words resumed this week between port employers represented by the United States Maritime Alliance  (USMX), and the International Longshoremen’s Association union and their 45,000 workers at East and Gulf Coast ports.  The sides had agreed to a media blackout when …

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WEEK 48 MARKET UPDATE

RIVALS SCRAMBLE TO KEEP PACE WITH MSC   The unmatched scale and growth ambitions of Mediterranean Shipping Co (MSC) is forcing competitors to scramble for  tonnage. Alpahliner is reporting that MSC has now surpassed 400 secondhand ship purchases since it embarked on a  historical buying spree amid the covid pandemic in August 2020. Alphaliner tallies 402 …

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WEEK 47 MARKET UPDATE

EU AND UK ISSUE SANCTIONS AGAINST IRISL   The UK and the European Union have targeted Islamic Republic of Iran Shipping Lines (IRISL) in their latest round of sanctions. The Iranian containerline and its CEO, Mohammadreza Modarres Khiabani, have been sanctioned over the company’s ongoing military support to Russia’s war against Ukraine and to armed groups …

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WEEK 46 MARKET UPDATE

CANADIAN DOCKERS LOCKED OUT OF BC AND MONTREAL PORTS   Dockers were locked out of terminals at Vancouver and Prince Rupert ports on 4 November after the ILWU Local 514 issued a strike notice; carriers issued customer advisories that alternative calls will need to be made as the west coast ports are at a standstill. Employer’s …

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WEEK 45 MARKET UPDATE

MONTREAL PORT EMPLOYERS PRESSURE STRIKING UNION   Maritime employers at the Port of Montreal warned that they will suspend salary guarantees for striking union members in an escalation of the longshore labor dispute. Saying it has “no other choice,” the Maritime Employers Association (MEA) said in a statement posted to its website that it will suspend …

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WEEK 44 MARKET UPDATE

ZIM ADDS NEW MEDITERRANEAN-US EAST COAST DIRECT SERVICES   Zim Integrated Shipping Services announced a restructuring of its Cross-Atlantic services linking the Mediterranean region with North and South America. The updated structure, to take effect in February 2025, will enhance service offerings by establishing two weekly service strings, one focused on direct routes from Mediterranean ports …

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