Air Cargo Rides Wave of Economic Uncertainty: Xeneta Report
A surprise summer of growth in global air cargo volumes showed no sign of abating in August as demand rose +5% year-on-year for a second consecutive month, but falling spot rates are likely to be a more telling indicator of the market outlook as shippers, airlines, and forwarders continue to battle against economic uncertainty, say […]
Montreal Gateway Terminals Employees Launched Strike on Monday
The 32 employees of Montreal Gateway Terminals launched an indefinite general strike on Monday morning. They had filed a strike notice last Thursday after voting 96% in favour of strike action on September 11.
Maritime’s Green Transition Reaches Tipping Point as Fleet Readiness Outpaces Fuel Supply
The maritime industry is entering a critical new phase in its energy transition, with fleet readiness for alternative fuels surging ahead of actual supply infrastructure, according to DNV’s latest Maritime Forecast to 2050 report.
CMA CGM Rules Out Surcharge Ahead of U.S. Fees on Chinese Tonnage
France’s CMA CGM, the world’s third-largest containerline, has told clients it is fully prepared for next month’s hiked port fees in the U.S. for Chinese-linked tonnage, and that it does not envisage implementing surcharges because of the new ruling.
Maritime Employers Association Provides Update on Port of Montreal Arbitration Proceedings
The Maritime Employers Association (MEA) provided the following update to CIFFA on September 10.
Turkey Bars Ships with Ties to Israel and Suspends All Trade
The Turkish government has reportedly taken steps to suspend trade with Israel and stop the movement of ships between the two countries, as well as possibly international shipping with an Israeli connection. The full extent of the moves is unclear pending official government statements, but it comes after the Houthis made it clear they were […]
Hurricane Erin Creates Risk for Shipping off U.S. East Coast
The outer bands of Hurricane Erin have reached the coastal waters of the mid-Atlantic states, bringing risks to shipping and to the general public in beachfront communities.
Air Canada Cargo Relief Schedule Continues to Operate During Recovery Period
Air Canada and Air Canada Rouge have resumed flights, and anticipate that it will take several days before activities return to normal. While flight operations are progressively resuming, temporary cancellations and adjustments may still occur as the program stabilizes.
Container Rates Stabilize After Tariff-Driven Volatility as Market Braces for Second-Half Contraction
Drewry’s World Container Index decreased 3% to $2,350 per 40ft container last week, marking the ninth consecutive week of decline as the market continues to stabilize following months of extreme volatility.
Port of Montreal Water Level Update
In an update provided on August 15, the Port of Montreal said that, due to low precipitation since early July, a downward trend in water levels is continuing. This is a significant concern for the port.