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Week 40 Market Update

RECESSION FEARS STOKED ON DAY THREE OF AMERICA’S PORT STRIKE Around 45,000 dockworkers at ports stretching from Maine to Texas went on strike on Monday night in the largest terminal industrial action seen anywhere in the world this century, something that has seen several box lines call force majeure this week. The International Longshoremen’s Association …

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WEEK 39 MARKET UPDATE

ILA contract negotiations: US supply chains brace for disruption   As the Sept. 30 deadline for the International Longshoremen’s Association (ILA) contract renewal passed, negotiations have reached a standstill, leaving the specter of a potential strike hanging over U.S. supply chains. With little progress made in bridging the gap between union demands and the position of …

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Logistics _ OceanFreight

WEEK 38 MARKET UPDATE

MSC SET TO MORE THAN DOUBLE ITS SHARE OF SLOT-SHARING AGREEMENTS  Global liners last week announced en masse their schedules on the main east-west trades come February next year when old agreements expire, and new groupings emerge. Among the key takeaways was how Mediterranean Shipping Co (MSC), the world’s largest container line, will not, as …

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Ocean Port

WEEK 37 MARKET UPDATE

US EAST COAST DOCKWORKER UNION PRESIDENT VOWS TO ‘HIT THE STREETS’ ON OCTOBER 1  The union threatening to go on strike at ports along the US east and Gulf coasts from October 1 has come out with a renewed tough stance over wage negotiations as the clock ticks down to what could be a massive …

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ocean freight shipping

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 …

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Ocean Port

WEEK 35 MARKET UPDATE

OTTAWA MOVES FAST TO END CANADIAN RAIL SHUTDOWN   The Canadian rail strike ended yesterday some 18 hours after it started as authorities moved rapidly to avert an  economic disaster. Canada’s two biggest railways shut down yesterday after a midnight deadline passed without an agreement overpay conditions. The stoppage of work by 9,300 engineers, conductors and …

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