Transolve Global | Global Trade

15 Aug ILWU workers reach agreement ending weeks of port disruptions along west coast of Canada

Posted at 17:16h in Freight Forwarders, Global Trade, Industrial Action, Port Disruptions, Ports, Shipping by Susan 0 Comments

0 Likes

The International Longshore and Warehouse Union (ILWU) has announced that just shy of 75% of its membership has moved to agree to a four-year contract which will see weeks of uncertainty and disruption along the Canadian west coast supply chain conclude. Whilst details of the agreement...

26 Jul UN adopts landmark high seas conservation treaty

Posted at 20:29h in Australia, Environment, Global Trade, United Nations, Water and the Environment by susan pop 0 Comments

0 Likes

After 20 years of negotiation, the United Nations has adopted a marine biodiversity treaty for the high seas, the first international agreement of its kind. Whilst individual nations have jurisdiction over marine biodiversity out to the edge of their own waters, there have been few, if...

26 Jul World Container Index continues decline

Posted at 20:26h in Freight Forwarders, Freight Forwarding, Global Trade, Logistics, Shipping, Shipping Containers, World Container Index by susan pop 0 Comments

0 Likes

The latest update of Drewry’s composite World Container Index (WCI) has seen a weekly decrease by 2.7% to reach $1494.46 per 40-foot container whilst the composite index has dropped by 78.9% when compared to the same week last year. The index is now 86% below the...

26 Jul Panama Canal introduces new restrictions in wake of worsening drought

Posted at 20:25h in Australia, Environment, Freight Forwarders, Freight Forwarding, Global Trade, Logistics, Panama Canal, Ports, Shipping, Shipping Containers by susan pop 0 Comments

0 Likes

Severe drought conditions affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer. The Panama Canal Authority (ACP) has stated it will progressively decrease the...

26 Jul Tentative agreement sees US West Coast industrial action cease

Posted at 20:15h in Australia, Global Trade, Industrial Action, Logistics, USA by susan pop 0 Comments

0 Likes

The International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) have reached a tentative agreement which sees longshore workers on the US West Coast secure a 32% salary increase over the life of a tentative six-year contract. This agreement signifies the conclusion of 13...

26 Jul Industrial action continues across Canadian ports

Posted at 20:11h in Australia, Global Trade, Industrial Action, Logistics, USA by susan pop 0 Comments

0 Likes

The container shipping industry and wider business landscape in Western Canada is bracing for the possibility of an extended strike across ports after the industrial action, which commenced on Saturday morning, continues, as an agreement remains elusive. The International Longshore and Warehouse Union (ILWU) representing over...

26 Jul Vessel schedule reliability improves across major shipping routes

Posted at 20:06h in Australia, Freight Forwarders, Freight Forwarding, Global Trade, Logistics, Logistics Solutions, Vessel Schedules by susan pop 0 Comments

0 Likes

According to Sea-Intelligence Maritime Analysis, vessel schedule reliability for the US West Coast has hit a two-year high, with on-time performance up 2.4 percentage points to reach 52.6% in May. Conversely, reliability across the East Coast decreased by 3.3 percentage points to 42.9% over the...

05 Jun World Container Index Update

Posted at 02:44h in Freight Forwarders, Global Trade, Logistics, Ports, Shipping Containers, World Container Index by susan pop 0 Comments

0 Likes

The latest update of Drewry's composite World Container Index (WCI) has seen a fall of 20% to US$1685.32 per 40-foot container this week, representing a drop of 78% when compared with the same week in 2022. The WCI is now 84% below the peak of US$10,377,...

05 Jun New Zealand / UK Free Trade Agreement

Posted at 02:37h in Free Trade Agreement, Global Trade, New Zealand Ports, Trade Agreement, UK by susan pop 0 Comments

0 Likes

The NZ/UK Free Trade Agreement, which was made official on 31 May 2023, will see the tariffs removed from the majority of NZ exports, including wine and agricultural products such as honey, onion and kiwifruit. This agreement is predicted to increase NZ exports to the UK...

20 May Slow Import Growth Expected

Posted at 02:32h in Global Trade, USA by susan pop 0 Comments

0 Likes

Monthly US imports continue to decrease by double-digit percentages to pre-pandemic levels. With import volumes anticipated to return to more seasonal ordering patterns, overall US imports are expected to remain below the year-ago comparison. The official import number for February of 1.55 million TEU was just...