Drewry reports that three million TEUs of new shipping capacity expected in 2025 will not ease the challenges shippers face as disruptions and rising costs are expected to keep freight rates high. Drewry analyzed scenarios with and without potential U.S. East Coast port strikes in January. In both cases, rates are expected to climb. Philip
According to Lars Jensen, CEO of Vespucci Maritime, the U.S. East and Gulf Coast port strike that took place in early October, will reduce capacity on certain trade routes and could disrupt cargo frontloading ahead of another potential work stoppage in January. Although the strike was brief, Jensen warned that its ripple effects will continue
The Port of Montreal has warned shippers that an overtime strike by union dockworkers at the Port of Montreal could shut down cargo operations across its four main international terminals. Canada’s Labor Minister, Steve MacKinnon, has proposed appointing a special mediator to restart negotiations and implementing a 90-day cooling-off period during which the longshore union,
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