Author: Shipco News Desk

Members from the International Longshoremen’s Association (ILA) have officially ratified a new six-year master contract with their maritime employers, represented by the United States Maritime Alliance (USMX). Nearly 99% of ILA’s 45,000 registered members voted in favor, securing a 62% pay rise, faster wage increases, and improved benefits. Retroactive to October 1, 2024, the contract

The U.S. Trade Representative (USTR) has proposed fees on Chinese-built vessels entering U.S. ports. The plan includes fees up to $1.5 million per port call for Chinese-built ships and $1 million for operators of these vessels. Public comments are open until March 24, after which a decision will be made. Most ocean-going ships would pay

Los Angeles and Long Beach ports achieved their strongest January performance as importers rushed to move cargo ahead of anticipated tariff increases on goods from China, Canada, and Mexico. The Port of LA moved 924,245 TEUs, up 8% from last year, said Port of Los Angeles Executive Director Gene Seroka. Import containers rose 9.5% to 483,831

Shipping in the Red Sea remains uncertain, despite a slight rise in traffic. Security concerns are still keeping most vessels on longer routes around Africa. Although no merchant ships have been attacked this year, threats persist as Yemen’s Houthis warn they may resume attacks on vessels should the ceasefire between Israel and Hamas collapse.  The

The International Monetary Fund (IMF) has revised its global trade growth projections downward in their January 2025 World Economic Outlook (WEO) report. According to Sea-Intelligence, the IMF projected that global trade growth is expected to reach 3.2% in 2025 and 3.3% in 2026, both of which are lower than historical average of 3.7% measured between

A new McKinsey Global Institute report examines how global trade is evolving based on four factors: trade intensity, geographic distance, geopolitical distance, and import concentration. The most significant ongoing shift in trade patterns is the decline in the average geopolitical distance of trade. Between 2017 and 2024, the measure dropped by -7%, indicating countries are

European ports are currently grappling with significant delays due to record container volumes arriving from China, extreme winter weather, and ongoing labor challenges. In December, exports from China to North Europe recorded a 17.6% increase year-over-year, according to Container Trade Statistics (CTS) data. The influx of container arrivals, which started to reach European ports in

In 2024, the container market surpassed growth expectations, with volumes increasing by 6.2% and demand for teu-miles rising by 21%, according to Sea-Intelligence. This surge was largely due to the Red Sea crisis, which forced carriers to reroute vessels around Africa. Overall, global container volume increased by 10.7 million TEU year-over-year. While seven trade lanes recorded

The U.S. has temporarily reinstated the de minimis exemption for eligible products from China, allowing goods under $800 to be excused from customs filing costs and duties. The de minimis exemption had gone into effect on February 4 as part of a 10% tariff increase on goods from China. The exemption will remain in place until

The U.S. less-than-truckload (LTL) freight classification system is undergoing the most significant overhaul of its nearly 90-year-old rating system, and shippers are concerned about potential cost increases in their LTL pricing. The National Motor Freight Traffic Association (NMFTA), a nonprofit trade organization responsible for managing the National Motor Freight Classification (NMFC), explains that the changes