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Hyundai Shipping Line (HMM) is poised to initiate sales discussions at a potential price point of $3.9 billion. Ocean freight rates have seen sustained decline over the past nine months. In response, some freight companies have pursued mergers and acquisitions (M&A) to maintain their market presence. The top 10 carriers command 85% of the global shipping container market. The top …
Since the earliest days of human civilization, the region we call the Middle East has served as an important bridge between East and West. Saudi Crown Prince Mohammed bin Salman’s recently unveiled plan to turn Saudi Arabia into a logistics hub by 2030 will continue this legacy. The plan is to build 59 logistics centres, covering 100 million square meters. …
Vancouver and Prince Rupert, BC ILWU Canada issued 72-hour strike notice at 8:00am today (June 28, 2023) to BCMEA. The port workers are prepared to start striking at 8:00am on Saturday, July 1, 2023.
Vancouver and Prince Rupert, BC Both sides (ILWU and BCMEA) are eligible to issue 72-hour strike notice, as the cooling off period expired June 20. Even though ILWU members voted almost unanimously in favour of strike action, it seems like neither side is eager to start a strike.
Vancouver and Prince Rupert, BCWe called ILWU Canada this morning, and they say there is no news. ILWU workers are required to issue 72-hour strike notice, before they go on strike. Today is the earliest they could issue strike notice. ILWU members have already voted in favour of a strike, back on June 10th.
Halifax, NS The Port of Halifax announced the details of the tentative agreement between the Halifax Employers Association (HEA) and the Locals of the International Longshoremen’s Association (ILA). The agreement was reached on April 12, 2023, but the details were shared last week in a press release.
U.S. West Coast Ports (Los Angeles, Long Beach, Oakland, Tacoma, Seattle, etc.) A tentative labour deal between dockworkers and port employers was reached yesterday (Wednesday), after more than a year of contentious negotiations.
Persistent drought conditions in Central America are responsible for a global logistics challenge. The Panama Canal is vital for trans-Pacific routes. Severe drought has affected water levels in the canal, which are not expected to recover until at least 2028. Insufficient water levels result in congestion and capacity problems that have prompted carriers to explore alternative routes. These alternate routes …
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