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US shipping rates have been dropping rapidly in recent weeks, particularly on the West Coast. Reports indicate that some prices in freight market have fallen below $2,000 per container, while major shipping companies are offering rates around $2,400-$2,500. On the East Coast, FAK (freight-all-kinds) rates are fluctuating between $4,600 and $4,800. These prices are valid […]

The International Longshoremen’s Association (ILA) announced Tuesday that it has ended negotiations with the United States Maritime Alliance (USMX) due to ongoing disputes over automation language in contract proposals. The union’s decision comes after USMX continued to push for automation and semi-automation provisions that the ILA argues would threaten jobs. In early October, following a

The Canadian government has intervened in ongoing port strikes at major hubs in Vancouver and Montreal, Labor Minister Steve MacKinnon announced Wednesday. The Canada Industrial Relations Board (CIRB) has been directed to order the resumption of operations and facilitate binding arbitration between labor and management. The strikes, lasting more than a week, have disrupted supply

The lockout was initiated after 1,200 dockworkers, represented by the Canadian Union of Public Employees (CUPE) Local 375, voted 99.7% against the Maritime Employers Association’s (MEA) contract offer. The union stated that the proposal did not adequately address their demands, particularly regarding scheduling and work-life balance. The MEA’s final offer included a cumulative salary increase

Dockworkers in Montreal, Canada, announced their plan to strike starting Thursday, October 31, targeting two major container terminals. This action was part of an ongoing disagreement over their contract. CUPE Local 375 urged the Maritime Employers Association to reach an agreement, stating that the strike would continue indefinitely unless they settled the work schedule issues.

Key Takeaways As the dust settles from the recent port strike on the US East and Gulf Coast ports, the shipping industry finds itself at a crossroads, balancing immediate labor disputes with long-term strategic shifts in logistics and alliances. The brief but historic dockworkers strike in nearly half a century, lasting merely three days, underscored

Review of the International Freight Market As of September 17, 2024, the Baltic Dry Index (BDI) closed at 1896 points, an increase of 87 points from August 30, representing a rise of 4.8%. In the iron ore market, supply saw a significant decrease in shipments from foreign mines in early September, with total global iron

The first half of 2024 in the container shipping market was marked by an early peak in demand, tight capacity, and rapidly rising freight rates due to several key factors. These factors include supply disruptions from prolonged rerouting around the Red Sea, increased exports driven by restocking needs in Europe and the U.S., and shippers

U.S. retail sales for May came in slightly below expectations, with a modest 0.1% increase in overall sales compared to the previous month.  Excluding automobile purchases, sales actually declined by 0.1%. However, when food services are excluded, retail sales showed a more positive picture, growing by 0.2% month-on-month and 2% year-on-year. Despite a slight decline