Category Archive

The Spanish government has approved a €2.2bn plan to aid farmers and consumers in dealing with an ongoing drought worsened by the record-breaking dry and hot April. The measures, unprecedented according to the government, involve allocating €1.4bn for water management and availability, and €784m to support farmers and prevent food shortages.

Ocean freight rates seem to have found a floor, but there are no meaningful increases expected until demand becomes stronger again. In April, ocean carriers implemented a series of ad hoc cuts to trans-Pacific vessels to boost spot rates. In May, they have turned to a more regular pattern of changing weekly services into biweekly services.

The largest terminal at the Port of Long Beach closed today (Monday), caused by dock workers rallying for better pay. Similar disruptions happened at the Port of Oakland on Friday. However, all terminals at the Port of Los Angeles and the Port of Oakland remain open today.

The earliest that West Coast dockworkers could strike or be locked out is June 24. The federal government’s conciliation process with the BC Maritime Employers Association (BCMEA) and the International Longshore & Warehouse Union Canada (ILWU) is complete, and no deal has been reached yet. As of May 31, both sides enter a 21-day cooling off period, which ends on …

During the ongoing 13-month labour contract negotiations at the U.S. West Coast ports, many importers had diverted shipments to alternative ports. Those same importers are bringing back some of that volume, as the route from China to the West Coast remains the fastest and most cost-effective option.

The first quarter financials for many container shipping lines are not looking good. For example, South Korea-based HMM had a 91% drop in net profit for the first three months of the year, compared to a year earlier. With the drops in revenue and profit and a gloomy outlook for the global economy, shipping lines are scrambling to mitigate losses …

Reports of truck drivers planning to boycott freight movement into or out of Florida have sparked a social media frenzy. The planned boycott is in response to a recently passed state law targeting undocumented immigrants, which mandates that employers verify the work authorization of their employees. The bill is scheduled to take effect on July 1.

The start of the Northern Hemisphere airline summer schedules in early April brought about the introduction of additional services, leading to a significant increase in bellyhold capacity within the air cargo market.

The trans-Pacific air freight market is expected to remain subdued through the second quarter of 2023 due to slowing demand, high inventory levels in the North America, and abundant capacity on trans-Pacific container ships at low cost. North American retailers are focused on reducing inventory to lower carrying costs, which has resulted in weak demand for Asian imports.

The container shipping industry is anticipating an increase in rates through the 2023 peak season as demand for freight is expected to recover in Q2 of 2023. According to the container price sentiment index (xCPSI), industry professionals’ short-term price expectations have turned from negative to positive in April, showing confidence building for the coming quarter. Despite the postponement of inventory …

Canadian Pacific and Kansas City Southern have officially combined to form Canadian Pacific Kansas City (CPKC), the only railway connecting North America and offering unrivaled port access on coasts around the continent. The acquisition, completed on December 14, 2021, resulted in the new combined company operating approximately 20,000 miles of rail and employing close to 20,000 people. CPKC plans to …

Longshore workers from the International Longshore and Warehouse Union (ILWU) Local 13 have been conducting job actions at the ports of Los Angeles and Long Beach for the past week. The ILWU has been “red-tagging” cargo-handling equipment at the ports’ three automated terminals, which designates the equipment as unsafe, although it was fine, and forces an inspection. These tactics have …

The International Longshore and Warehouse Union (ILWU) Canada has filed a “notice of dispute” with the Canadian federal government’s Minister of Labor, asking for assistance in negotiating a new contract with maritime employers. The existing contract between ILWU Canada and the British Columbia Maritime Employers Association (BCMEA) expired at the end of March. The two sides have had five face-to-face …

Starting in April 2023, Air Canada Cargo will begin their Boeing 767 freighter service from Toronto to Liege, Belgium, with a stop in Halifax on the way. It will also start a service to Basel, Switzerland.