Below you'll find a list of all posts that have been categorized as “News”
Federal officials are involved in preventing a potential third labour stoppage in four years at the Port of Montreal, where dock workers have been without a labour deal since their agreement expired on December 31. The Maritime Employers Association (MEA) in Montreal, which includes approximately 1,290 longshore workers and 165 checkers, is in ongoing negotiations with union representatives. The Federal …
In the upcoming year of 2024, the maritime industry is poised for a transformative phase akin to a sophisticated game of musical chairs, particularly within the realm of shipping lines. Analogous to the strategic alliances observed in the aviation sector, wherein airlines align themselves under banners like Star Alliance, One World, and Sky Team, the container shipping sector operates under …
Back in the 1980s and 1990s, container ships were smaller and slower. This meant it took a good 50 to 60 days for urgent shipments from Asia to Europe. Air cargo, on the other hand, was too expensive for high-value goods, making it hard to justify the cost. To tackle this, logistics companies like Canaan came up with a solution. …
Since November 2023, the Maritime Union and DP World have been stuck in a disagreement loop. DP World runs major terminals in Sydney, Brisbane, Melbourne, and Fremantle Ports, shaping the fate of 40% of Australia’s shipping. The heart of the matter revolves around a labor deal – the union pushing for a concise two-year plan with an 8% annual pay …
On May 13, 2024, CARM (CBSA Assessment and Revenue management) digital system will become the office system of record that importers and other trade chain partners will use to pay for import duties and taxes. What is CARM? CARM stands for the CBSA Assessment and Revenue Management program. It is a new initiative by the Canada Border Services Agency (CBSA) …
The looming threat of a US East Coastwide strike in the US maritime industry continues as negotiations between maritime employers and the International Longshoremen’s Association (ILA), have yet to restart. ILA President Harold Daggett emphasizes the need for a significant hourly wage increase before delving into other contract terms. The potential strike, the first in 47 years, carries financial repercussions …
The recent spate of attacks on the merchant fleet in the Red Sea continues to impact shipping traffic in the area. Last Thursday, air strikes on January 11th by US and UK fighter planes on targets in Yemen from where Houthi militants have launched attacks on commercial shipping since early December. This highlights that this conflict will continue to escalate …
Winnipeg Richardson International Airport is slated for a significant $19.4 million cargo upgrade, backed by the National Trade Corridors Fund. The project encompasses the construction of a state-of-the-art storage facility, equipped with cold storage for perishable goods, aimed at expanding cargo capacity for both imports and exports. The initiative is strategically designed to enhance accessibility, particularly for remote and Northern …
The Logistics Managers’ Index (LMI) indicates a potential shift in the transportation market, as the capacity component has fallen below the transportation price figure, possibly signaling a move towards supply and demand equilibrium. Despite truckload demand being lower than during the pandemic, it has steadily grown in 2023. Carriers and third-party logistics providers grapple with oversupplied capacity due to a …
Maersk vessel named Hangzhou has been attacked on December 30th, 2023 while travelling through the Red Sea with the intention of going through the Suez Canal. Ongoing security concerns in the Red Sea are affecting shipping lines navigating from Asia to North America and Europe because -despite US Navy presence- Yemen-backed Houthi rebels remain a threat to container vessels. While …
Spot freight rates from Asia to North America have surged due to the deteriorating security situation in the Red Sea. Carriers are expected to leverage market uncertainty during January negotiations for 2024–25 service contracts. The attacks on shipping have led vessels to divert around the African Cape of Good Hope, increasing voyage times and costs. Some customers are considering transloading …
The EU’s Emissions Trading System’s scope is expanding to include the ocean shipping sector starting January 1st, 2024.
Contract negotiations at the Port of Montreal have hit an impasse, prompting a 21-day “cooling off” period that could result in a strike on January 4, 2024. Shippers, concerned about disruptions, are urging government intervention following the recent Port of Vancouver strike. In late October, Local 375 requested the Federal Mediation and Conciliation Service to intervene in talks with the …
Shipping giants including MSC, CMA CGM, A.P. Moller-Maersk and Hapag-Lloyd have halted their vessels from entering the southern entrance of the Red Sea following attacks on their ships this past weekend. Avoiding the Red Sea means avoiding the Suez Canal leaving navigating around the Cape of Good Hope the next best option. This inevitably adds costs and delays in global trade …
The Vietnamese government is invested in becoming a “factory of the world”, integrating manufacturing and logistics to serve the ASEAN region. The Association of Southeast Asian Nations (ASEAN) is a trade bloc with a population of nearly 700 million people. ASEAN’s rising middle class and significant economic development over the past decade make it an appealing trade partner for the …
After a turbulent year including weeks of labour disputes, there’s good news coming out of the port of Vancouver. Recently ranked second-last in efficiency out of 348 container ports worldwide, Vancouver has an ambitious plan to increase port capacity by 50% by 2030. A variety of infrastructure improvements will contribute to increased capacity and efficiency, including the Roberts Bank Terminal …
Over the past 5 years, America has sought to reduce its reliance on Chinese imports for a variety of reasons. US policies and regulations aimed at reducing Chinese imports have proven effective. In tandem with China’s ongoing recovery from COVID related supply issues, the result is a sharp decline in direct Chinese imports to America. In fact, 2023’s share of …
In August, air freight rates remained relatively stable. The Baltic Air Freight Index (BAI00) dropped by 1.8% for the week ending August 28. Southern China experienced a contrasting trend. Robust e-commerce activity drove a 2.2% rise in outbound Hong Kong rates (BAI30) and a 4% increase in Shanghai’s air cargo rates (BAI80). However, rate fluctuations were evident in other regions. …
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. …
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