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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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WEEK 41 MARKET UPDATE

American port strike comes to an end   This week’s port strike across the US east and Gulf coasts came to an end on Thursday after dockworkers struck a tentative deal with port operators. The International Longshoremen’s Association (ILA) announced that the union had reached an agreement with the United States Maritime Alliance (USMX) on wages, …

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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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