While the security guard contract is separate from the coastwide longshore deal being negotiated, officials are working feverishly to avoid a strike, given the possibility that dockworkers would honor any picket lines, thus shutting down affected terminals.
The Port of Oakland says increasing a long-dwell container fee is needed to reduce congestion on the docks, but the port’s largest terminal worries that could attract unwanted pushback from the FMC.
This year will mark the peak of container shipping profitability, with carriers entering an unavoidable downturn in the markets, according to global bank HSBC.
The recently ample supply of equipment has cut the price of new 40-foot containers by about 20 percent since late last year, and the price could soften further into 2023, according to Drewry.
There is still no silver-bullet carbon-neutral fuel solution available to the shipping industry, but the cost implications of decarbonizing the global maritime industry are becoming clearer, says DNV.