The International Longshoremen’s Association (ILA) contract that includes 3 dozen ports and 45,000 dockworkers, covering Maine to the Gulf of Mexico near Texas, is set to expire on September 30th. If the ILA and the U.S. Maritime Alliance cannot reach an agreement by this deadline, this would lead to a strike. This strike would... Read more »
Hurricane Beryl made landfall on the Gulf Coast of Texas on Monday. Beryl landed about 85 miles southwest of Houston. With a maximum wind speed of 80 mph, much damage was sustained to the surrounding area. Nearly 3 million Texans are without power across the coast. Many of Port Houston’s key facilities were damaged, including... Read more »
In recent months, the container shipping industry has encountered a perfect storm of challenges, resulting in significant disruptions and increased costs for shippers worldwide. A confluence of factors, including ongoing Red Sea diversions, Asian port congestion, and sudden demand spikes, has created a volatile environment reminiscent of the tumultuous period experienced during the pandemic.... Read more »
Ocean shipping issues have been a major factor in the supply chain difficulties since the start of the pandemic. In 2021, US legislators proposed the Ocean Shipping Reform Act (OSRA) in an attempt to mitigate some of the problems plaguing the industry. Signed into law by President Biden in June 2022, the OSRA intends to... Read more »
With everyone wanting to start the new year off on a good foot, port congestion on the west coast has been causing headaches for importers. The congestion at the ports of Los Angeles and Long Beach that started around the beginning of the holidays has only gotten worse with no clear end in sight. High... Read more »
Last week news broke that South Korean-based company, Hanjin Shipping Co., filed for bankruptcy, leaving many in chaos and confusion. Hanjin announced that it would stop releasing equipment and accepting new bookings for a period of time. The company’s assets are currently frozen. They are reportedly the world’s seventh largest shipping line by capacity. The... Read more »
