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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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WEEK 43 MARKET UPDATE

MSC TO TAKE OVER WILSON SONS IN $768M DEAL   Swiss-based liner giant Mediterranean Shipping Co (MSC) has struck a deal via its subsidiary Shipping Agencies Services (SAS) to acquire a majority stake in Brazilian port and maritime logistics operator Wilson Sons. London-listed Ocean Wilsons Holdings said in a filing Monday it is selling its 56.47% …

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WEEK 42 MARKET UPDATE

FLORIDA PORT GETS $9.5M IN MILTON STORM FUNDING   Florida’s SeaPort Manatee will receive $9.5 million in state emergency funding to aid recovery from Hurricane Milton. The funding comes as fuel, food and other goods begin to move through the maritime hub near Tampa Bay. The port serving southwest and central Florida suffered an estimated $200 …

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