Remove Analysis Remove Definition Remove Maritime
article thumbnail

Progress Has Been Made on U.S. West Coast Port Labor Negotiations

MTS Logistics

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.

article thumbnail

Ocean Freight Contract Season: An Overview and Key Components

MTS Logistics

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

3 Short to Medium-Term Risks for the Supply Chain & Ocean Shipping

MTS Logistics

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.

article thumbnail

A simple but clear perspective on the notion of Shipping Cartels

Shipping and Freight Resource

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.

article thumbnail

2023 Expectations for Ocean Shipping and the Broader Shipping Industry

MTS Logistics

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.

article thumbnail

What is ISPS and who has to pay it?

Globalior

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.

article thumbnail

Wind Power Looked At to Make Shipping Greener, But Challenges Remain

MTS Logistics

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.