Starting in 2024, the EU will include the shipping industry in its emissions trading scheme (ETS), significantly raising costs for carriers. Ships traveling between EU ports must cover 100% of their emissions, while those arriving from outside pay for 50%. This extends EU law to...
Market Rate Level Update – GRI for November 1st, 2023 In light of the current market trends, we want to bring your attention to some recent developments in the shipping industry. Carriers have initiated a General Rate Increase (GRI) effective November 1st, with fluctuations observed in...
The Panama Canal faces a severe crisis due to a prolonged drought, resulting in critically low water levels. Reduced water availability has compelled restrictions on ship passages, affecting global trade and raising concerns about water management in Panama. Shrinking water reserves have forced a significant cut...
Environment Canada has issued a Tropical Cyclone Information Statement as Hurricane Lee approaches the Maritimes. Pilot and terminal operations at the Port of Halifax may be affected late this week and into the weekend. We are working closely with our marine partners and will provide updates as...
CN: As of July 14, CN's plan to resume service to/from the West Coast ports is to: Prioritize all staged trains on CN’s network into the ports in Vancouver and Prince Rupert.Resume loading traffic on ground at CN terminals to the ports in British Columbia.Resume accepting...
Update Related to BCMEA-ILWU Tentative Agreement Joint Statement by Ministers O’Regan and Alghabra: 'We Do Not Want to Be Back Here Again'On Thursday, the Honourable Seamus O’Regan Jr., Minister of Labour, and the Honourable Omar Alghabra, Minister of Transport, issued the following statement regarding the collective...
A continuous deterioration in the accuracy of transit and arrival times in global container shipping means the sector is in the worst state it has been in for 50 years, according to Drewry Shipping Consultants. The situation is not expected to start improving until the...
LONDON, May 3 (Reuters) - Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China's COVID-19 lockdowns, Russia's invasion of Ukraine and other strains cause even longer delays at ports and drive up costs.The study by analysts...
Production in spinning mills in this peak season has remained halted over the past six days because of a severe crisis of gas for overhauling at the Bibiyana gas field. Following the suspension in production, the millers are fearing that the export of garment items will...
The Shanghai lockdown is delaying shipping schedules in South China and bringing down spot rates. And now Guangzhou has become the latest port city to undergo mass Covid-testing, a frequent precursor to tough restrictions under China’s zero-Covid policy. City-wide testing began on Saturday evening, along with travel...
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