This week, ocean container shipping demand from China to North America and North Europe hit record highs in June 2024 due to importers securing supply chains amid Red Sea disruptions, according to Xeneta. The International Longshoremen’s Association is preparing for its first potential strike in over four decades, with the current contract set to expire on September 30. The Port of Virginia has launched an expanded rail yard at Norfolk International Terminals, increasing annual on-dock rail capacity by 455,000 TEUs. Tropical Storm Debby, after hitting Florida as a Category 1 hurricane, is causing catastrophic flooding along the East Coast, resulting in at least five deaths, port closures, and substantial economic damage. Canadian National Railway and Canadian Pacific Kansas City will resume contract negotiations with the Teamsters Canada Rail Conference on Wednesday to address issues like crew scheduling and fatigue management. Political unrest in Bangladesh has disrupted the supply chain, causing delays at Chattogram port, factory closures, and $270 million in losses for the garment industry. Lastly, dockworkers along the East and Gulf coasts, including the Port of Charleston, are gearing up for their first strike in 46 years, with contract negotiations with the U.S. Maritime Alliance stalled. Read the full articles for comprehensive coverage on these developments.
Weekly Freight Report: August 9, 2024
August 9th, 2024
Record-Breaking Ocean Container Shipping Demand from China
Demand for ocean container shipping from China to North America and North Europe reached record highs in June 2024 due to importers securing supply chains amid Red Sea disruptions, resulting in significant spot rate increases and port congestion, according to Xeneta.
USEC Port Workers' Union Set to Finalize Contract Demands and Strike Strategy
The International Longshoremen’s Association (ILA) is preparing for its first potential strike in over four decades, emphasizing that it will not extend the current contract beyond its September 30 expiration, with wage increases and automation being major points of contention.
Port of Virginia Launches Expanded Rail Yard at Norfolk International Terminals
The Port of Virginia officially opened a larger intermodal yard inside Norfolk International Terminals (NIT) on Tuesday, saying the expansion will provide more resiliency to weather disruptions in the port or rail network without a major impact on cargo owners.
Some Ports Remain Closed as Debby Moves Up East Coast
Tropical Storm Debby, after hitting Florida as a Category 1 hurricane, is causing catastrophic flooding and significant rainfall along the East Coast, resulting in at least five deaths, port closures, and substantial economic damage.
Canadian National, CPKC to Resume Contract Talks with Teamsters
Canadian National Railway and Canadian Pacific Kansas City will resume contract negotiations with the Teamsters Canada Rail Conference on Wednesday, following encouragement from Canadian Labour Minister Steven MacKinnon, to address issues such as crew scheduling and fatigue management, with the aim of avoiding a potential work stoppage.
Weeklong Delays at Bangladeshi Port Caused by Political Unrest
Political unrest in Bangladesh has severely disrupted the supply chain, causing significant delays at Chattogram port, closing clothing factories, halting exports, and resulting in an estimated $270 million in losses for the garment industry.
Dockworkers Union Strike Threat at SC, Other Ports Ramp Up with Notice to Shipping Lines
Dockworkers along the East and Gulf coasts, including the Port of Charleston, are gearing up for their first strike in 46 years as contract negotiations with the U.S. Maritime Alliance have stalled, with the current six-year agreement set to expire on September 30.
