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West Coast dockworkers, has advised that they have reached a tentative agreement with the Pacific Maritime Association (PMA) which represents the shipping lines and terminal operators, on certain key issues. The negotiations will continue until they reach a definitive pact. The negotiations cover 29 U.S.
Important Components of Contracts for Ocean Freight The negotiation of rates and prices is a fundamental component of maritime freight contracts. ” He then added, “Right now, it’s definitely not the preferred option.” So as soon as they expire, shippers may need to ship all that product on the spot market.
The International Longshore & Warehouse Union (ILWU) and West Coast employers, led by the Pacific Maritime Association (PMA), will be back negotiating a new contract as the current one is expiring. That will be the very definition of success or failure for businesses. Port of Los Angeles Negotiations.
Based on this, there seems to be a natural and immediate view that these lines fit the definition of cartel “ A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. It’s definitely not the whole story. Which leads me back to my initial tweet.
The definition of normalization is difficult to come by. With the Ocean Shipping Reform Act (OSRA) bill under its belt, the Federal Maritime Commission (FMC)’s involvement on demurrage and detention-related matters will increase and this may push carriers to better manage these matters. Increased regulatory involvements.
This is an important part of maritime laws and regulations that safeguard the safety of ocean faring vessels, sea ports, seamen, crew and cargo. ISPS code regulations were introduced by the International Maritime Organization (IMO) on the 1st of July 2004. Analysis of information collated.
According to a Cargill executive profiled in the Times, the turbines can reduce fuel usage by 3 tons per day, which definitely makes an impact on emissions. It uses “wing turbines” that allow it to use the wind to generate some of the electricity it needs to run.
It comprises 11 areas of collaboration, “ranging from developing data definitions to ensuring equitable access to data for users,” according to Dee Dee Myers, director of California’s economic development organization GO-Biz. The MOU for the alliance establishes the basis for developing a shared data system.
Descartes Systems Group , a global leader in uniting logistics-intensive businesses in commerce, has released its October report on the ongoing global shipping crisis and analysis for logistics and supply chain professionals.
Let’s start with some definitions of what a freight forwarder is. A freight forwarder is a person or company that coordinates and organizes the movement of shipments on behalf of a shipper by partnering with carriers who transport cargo by ships, airplanes, trucks, and railroads.
Artificial intelligence is in its infancy but that doesn’t negate its current and, most definitely, future importance in all areas, especially logistics. In a growing global economy, logic would dictate that we need more advanced technologies (i.e. artificial intelligence) to even keep up with growing global demands.
There were definitely some challenges, like the last-minute winter storm that snarled air travel in many parts of the U.S. This was perhaps seen best during the 2022 holiday season, where shipping delays appeared to be much less pronounced than the past two holiday seasons where goods were delayed weeks and even months after Christmas.
They most definitely exacerbate the situation and has undoubtedly hurt our shipping industry. Recently we have seen a dramatic increase in energy costs in the U.S., more specifically rising oil prices. Although current oil prices have been directly effected by sanctions imposed on Russia, high tariffs do not help the situation.
Analysis: How Bad Is It? Or with Maritime Australia, who worked collaboratively in considering their approach, joining with peak industry bodies, and others, in a series of forums held in Australia’s largest cities. And the recent three month stay of execution will definitely help new behaviors and new processes bed down.
ABC Analysis: A form of Pareto analysis applied to a group of products to enable selective inventory management controls. ABC Classification: The classification of inventory, after ABC analysis, into three basic groups for the purpose of stock control and planning.
It was initially established in 1937 after a strike that started in 1934 and the union has a contract with the Pacific Maritime Association that covers 29 container ports and 15,000 dockworkers. So, there is definitely a valid reason why the ILWU is resisting so much against automation over the last two decades.
Maritime Alliance (USMX), for its part, have resisted a pay increase of the large amount requested. If workers go on strike this time, it would definitely be disruptive, especially with a global supply chain that has already experienced many disruptions in recent years. That strike was disruptive.
Two, almost three exceptional years for carriers are definitely coming to an end. In this regard, the industry’s major concern will be on having systems interact directly via automating the Data-Analysis-Decision-Action cycle. Labor dissatisfaction might grow in European and North American economies.
Many argue that ocean carriers are the definition of an oligopoly. House of Representatives passed in December 2021, the Ocean Shipping Reform Act which gives the US Federal Maritime Commission more power to act on anti-competitive behavior by container shipping lines and would require ocean lines to “meet minimum service standards.”
It uses the Federal Maritime Commission (FMC) to provide stronger oversight of the industry by instituting reporting requirements for shipment volumes and other figures. The first two items on the list can definitely have a major impact on daily shipping activities. We previously reported on the Act, which had passed the U.S.
Executive Insights is a series by Shipping and Freight Resource that provides useful insights and thoughtful analysis on what is happening in the maritime, shipping, freight, logistics, supply chain and trade industries. SFR : Ok, it seems like DCSA has definitely been doing a lot of things. Image : DCSA.
If hostilities resume, the Red Sea will definitely not be safe for shippers and the re-routing of ships will continue. Now, it appears they had good reason, with more uncertainty clouding the view on what will happen in the region.
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