21-Day Cooling Off Period starts for West Coast dockworker negotiations

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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 June 21, when both sides acquire the right to strike or lockout. Both parties agreed that no 72-hour strike or lockout notice will be filed before June 21, making June 24 the earliest date for a strike or lockout to begin.

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B.C.’s Trade Diversification Strategy: Driving Growth for Canadian Businesses in New Markets

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In response to the increasing interest among Canadian companies to diversify their market presence beyond the United States and China, local governments are stepping up to support these businesses. One such example is B.C.’s Trade Diversification Strategy, which focuses on bolstering export development and investment attraction by capitalizing on British Columbia’s competitive advantages. The strategy targets new markets such as Mexico, Taiwan, and Vietnam, while also expanding in key existing markets.

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Container Shipping Lines Mitigate Losses as Q1 Profits Plummet

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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 by cutting costs, applying blank sailings, and re-focusing on profitable trade lanes.

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Q2 2023 Trans-Pacific Air Freight Market is Subdued from Slowing Demand and High Inventory Levels

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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.

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Container Shipping Industry Anticipates Increased Rates through 2023 Peak Season

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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 replenishment cycles by retailers who overstocked, there is an expectation of a subdued rebound in demand as retailers begin to deplete their excess stock leading up to the peak season.

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Newly Formed CPKC plans US$275 million Infrastructure Investment in Next Three Years

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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 invest over US$275 million in new infrastructure over the next three years to improve rail safety and capacity. The full integration of CP and KCS is expected to take place over the next three years, unlocking the benefits of the combination.

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U.S. West Coast Port Negotiations Face Uncertain Future as Disruptions Persist

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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 forced the terminals to halt operations for an eight-hour shift or an entire day, disrupting port activities.

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ILWU Canada Asks for Federal Intervention in Contract Talks

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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 bargaining sessions since formal negotiations began on March 6, but the union is seeking significant wage increases, and the automation of cargo-handling equipment remains a source of tension.

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Canaan Group Wins 2023 Top Fleet Employer of Distinction

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Trucking HR Canada has announced that Canaan Group is one of the best Canadian fleets to work for in the trucking and logistics industry in their 10th annual Top Fleet Employers Program. Canaan Group has been a Trucking HR Canada member since 2015 and has won the Top Fleet Award for 8 consecutive years.

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Port Worker Union Labour Talks on West, East, and Gulf Coasts

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The last half of 2023 will have six separate North American longshore unions engaged in contract talks with ports, unless there are any breakthroughs. This rare occurrence is causing shippers to be nervous, as containerized trade cannot happen without unionized port workers.

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The Future of Shipping Alliances

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Due to a decrease in freight rates and the recent dissolution of the 2M alliance between Maersk and MSC, concerns have arisen regarding the stability of existing alliances. At the TPM Conference last month, there were reassurances that existing alliances will remain unchanged. Hapag-Lloyd CEO has also recently issued an announcement saying, “Our alliance is pretty strong and stable, and we have a contract together until 2030.” All this means that shipment services to North American will remain as is.

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