After weeks of contentious negotiations, maritime employers and the International Longshoremen’s Association (ILA) have reached a tentative deal to reopen container terminals at East and Gulf coast ports. The agreement includes a substantial wage increase for dockworkers and a three-month contract extension while formal negotiations continue. The breakthrough, announced Thursday evening, comes after the White […]
Read MoreAs of 12:01 A.M., October 1st, 2024, the long-anticipated strike by the ILA (the International Longshoremen’s Association) has officially begun, leading to a complete shutdown of all U.S. East and Gulf Coast ports until further notice. This development means that no cargo can move in or out of these ports. Our sources indicate that the […]
Read MoreThe airfreight industry has reached a pivotal moment, with benefits from the Red Sea crisis tapering off while e-commerce growth continues to exacerbate trade lane imbalances. These insights were shared by experts during the “Flexport Air Market Predictions for 2025” webinar this week. Niall van de Wouw, Xeneta’s Chief Airfreight Officer, noted that while ocean […]
Read MoreThe global supply chain is facing an unexpected challenge in 2024: a shortage of containers. Despite the significant capacity added by ocean carriers, recent reports and spot prices indicate that container scarcity is a reality. But what does this mean for North American intermodal transportation, and could it lead to a repeat of the chaos […]
Read MoreThe container shipping industry is experiencing a worrying trend – a repeat of the supply chain disruptions that plagued the world during the pandemic. This shortage of ships, coupled with high demand, threatens to send shipping rates soaring and cause significant delays. Unless there’s a quick turnaround, freight rates could skyrocket, potentially reaching a […]
Read MoreThe Red Sea disruption to container shipping remains uncertain in terms of duration, according to Drewry Maritime Research. The anticipation is that carriers might not resume Suez Canal transits until the elimination of the risk of attack, a process expected to take months rather than weeks. Despite this, Drewry’s analysis suggests that the impact on […]
Read MoreThe Red Sea, one of the world’s busiest shipping lanes, faces unprecedented risks as Houthi rebels launch escalating attacks on commercial vessels. Houthi Motives and the Murky Web of Attacks: The Houthis, backed by Iran, claim their strikes target vessels with Israeli ties. However, experts highlight the indiscriminate nature of attacks, raising concerns about wider […]
Read MoreDouble Trouble: Global supply chains are bracing for a potential “milder version” of the pandemic’s crisis due to disruptions at both the Suez and Panama Canals. Attacks by Houthi militants in the Red Sea have forced shipping companies to reroute vessels, adding 7-10 days to voyages and potentially doubling ocean freight prices. Meanwhile, drought-induced restrictions […]
Read MoreThe International Longshoremen’s Association (ILA), the union representing dockworkers on the U.S. East and Gulf coasts, warned members to prepare for a possible coast-wide strike in October 2024. Harold Daggett, the President of the ILA, conveyed this message to the rank-and-file members. He also mentioned that an update on wage negotiations with ocean carriers […]
Read MoreThe Panama Canal Authority (ACP) has announced further restrictions on ship crossings, starting February 1, 2024, in response to an intensifying drought that has caused water levels in the canal to reach record lows. The drought, which is being blamed on the El Niño weather pattern, has had a significant impact on global trade, with […]
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