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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PANAMA CANAL INCHES BACK TO NORMALITY The Panama Canal Authority (ACP) has upped the maximum authorised draft allowed for vessels transiting the larger neopanamax locks by 30 cm to 14.94 m as it gets back to normal operations following more than a year of drought linked difficulties. The canal increased daily transits to 35 slots …
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RED SEA-DRIVEN SURGE IN CONTAINER SHIPPING RATES LOSES MOMENTUM Mass diversions of container ships around Africa’s Cape of Good Hope caused spot rates to surge, but the Red Sea effect has a limit, which may have already been reached. Upward momentum has slackened. Rates in most lanes have leveled off. Several indexes for European lanes …
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CONTAINER SHIPPING RATES SPIKE AS RED SEA CRISIS DRAWS FIRST BLOOD For cargo importers, the outlook is now clear: higher freight costs and longer delays. For liner profits, sentiment is increasingly bullish — but there are uncertainties. Spot rates and surcharges are rising fast, but liner costs are also increasing due to much higher fuel …
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