Members of the International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, ending a two-year battle between the two parties. The day after the grain terminal deal was announced, the ILWU and the Pacific Maritime Association, which represents employers in negotiations with the union on a coastwide container contract, issued a joint statement that the parties had reached a tentative agreement on health benefits. The joint release was but the latest indication that these talks are proceeding much less contentiously than negotiations in 2002 or 2008.
Chilean container line CSAV cut back its losses in the second quarter, losing $58.5 million ahead of its merger with German carrier Hapag-Lloyd.
The Clementine Maersk will skip the port of Vancouver, British Columbia, in its current rotation, citing congestion and “significant” delays following the CMA CGM Attila’s striking of the dock two days ago. The Maersk Line vessel will shift cargo bound for the Canadian gateway to the CMA CGM La Scala.
Rickmers Group said “strained” markets, currency exchange and weak charter rates contributed to revenue and profit declines in the first half of 2014, and that conditions will remain difficult through the rest of the year.
NYK Line in May took delivery of the first post-Panamax car carrier built in Japan. Dubbed the Aries Leader, the new pure car carrier not only boasts a capacity of 7,000 vehicle units, but also a wide range of energy-saving technologies not found on other such vessels.
At least two ocean carriers are cutting intermodal fuel surcharges for dry and refrigerated shipments to and from the United States, effective Oct. 1, as a result of falling diesel prices.
While some September 1 general rate increases seem to be successful, others have not taken hold, and spot rates in those lanes may drop to new lows.
Despite the lack of a new West Coast labor contract two months after the expiration of the last agreement, the threat of work stoppages to peak-season merchandise is rapidly receding, according to a retail industry consultant.
Several container lines have planned general rate increases in trade lanes in the next two months, but any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
CMA CGM, the world’s third-largest carrier in deployed capacity, increased revenue and cut operating expenses in the April through June period according to quarterly figures released today.