Falcone Global Solutions, LLC

From our Family to yours, Happy Thanksgiving to All!

The Port of Charleston will pause construction at the Wando Welch Terminal for two weeks to reduce the queue of vessels anchored outside the port. The South Carolina Ports Authority (SC Ports) aims to address delays caused by the construction project and a software issue that shut down operations for two days in late May. Since then, the port has experienced longer-than-average delays, causing some carriers to omit Charleston from their sailing schedules through July. Construction on the toe wall at the Wando Welch Terminal will resume once the queue is reduced. Get the latest ocean shipping news delivered to your feed by following Falcone Global Solutions today. #PortOfCharleston #SCPorts #portcongestion #oceanshipping #news https://ow.ly/VKLi50SnmyR

The bulk carrier M/V Tutor has sunk in the Red Sea after being attacked by the Houthis last week. The initial attack occurred on June 12, causing severe damage and flooding. After the crew was evacuated, the vessel began drifting and was scheduled for recovery earlier this week. However, debris and oil were spotted at its last known location, prompting the UK Maritime Trade Operations Center to report that the vessel had sunk. This is the second commercial vessel to be sunk by the Houthis, following the sinking of the bulk carrier Rubymar in March. ➤ Follow Falcone Global Solutions, LLC for continuing updates on the Red Sea crisis. #RedSeaCrisis #oceanshipping #news https://ow.ly/XeIe50Smo2y

The global containership fleet is set to surpass 30 million TEU for the first time in history, driven by a surge of newbuilds from Asia. Including anticipated vessel recycling, the fleet should surpass the 30 million TEU mark by the end of this year. This milestone was achieved rapidly, with the fleet growing from 20 million to 30 million TEU in just seven years. Data from BIMCO shows that 478 containerships with a capacity of 3.1 million TEU are scheduled for delivery this year, beating the record set in 2023 by 41%. Global fleet capacity is expected to grow 10% in 2024. ➤ How will this additional capacity impact ocean freight rates? Comment below with your thoughts. #oceanfreight #oceanshipping #containerships #capacity https://ow.ly/M4hV50SlPUV

US import volumes are projected to be 10-15% higher year-over-year during the summer peak season, according to the National Retail Foundation and Global Port Tracker. This surge in demand has led some intra-Asia ocean carriers to resume transpacific routes not used since the pandemic. SeaLead Shipping announced a new Asia West Coast service connecting several major Chinese ports to Busan and Long Beach. BAL Container Line relaunched its China-Mexico Express service, calling at Yantian, Qingdao, Lazaro Cardenas, and Manzanillo. Mainline carriers COSCO and OOCL added their own transpacific service which will deploy six ships on a rotation between Ningbo, Shanghai, Lianyungang, Vancouver, and Seattle. This year's peak season started earlier than expected, prompting ocean carriers to implement peak season surcharges (PSSs) sooner. Multiple steamship lines introduced PSSs at the beginning of June that have climbed quickly to $1,000-$2,000 per FEU. These surcharges aim to close the gap between fixed contract and spot rates. ➤ Follow our page for more ocean freight updates and insights. #oceanshipping #imports #peakseason #spotrates #news

Happy Father's Day from Falcone Global Solutions!

Canadian border workers represented by the Public Service Alliance of Canada (PSAC) reached an agreement with the Canada Border Services Agency (CBSA) Tuesday afternoon, ending the threat of a strike that was set to start Friday. Details of the new tentative agreement will be announced on Thursday with a ratification vote to follow. "We are continuing with negotiations for the remaining active bargaining tables and are committed to reaching similar positive outcomes," said the president of Canada's Treasury Board. In stark contrast to this agreement, meetings between the Teamsters Union (TCRC) and Canada's two largest railroads, Canadian National (CN) and Canadian Pacific Kansas City (CPKC), have been entirely unproductive. The TCRC is ready to strike as soon as possible, but the action is being delayed by the Canada Industrial Relations Board (CIRB), which is reviewing whether railway workers should be deemed essential and whether a work stoppage would 'endanger public safety.' The CIRB has set a deadline of June 14 to submit arguments on whether the rail services should be deemed essential, but it is unknown how long it will take the board to come to a final decision. Image: Rail networks of Canadian National and Canadian Pacific Kansas City Source: FreightWaves The Loadstar #Canada #border #railroads #strike #news

𝐇𝐨𝐰 𝐆𝐥𝐨𝐛𝐚𝐥 𝐓𝐫𝐚𝐝𝐞 𝐖𝐚𝐬 𝐒𝐡𝐨𝐜𝐤𝐞𝐝 𝐛𝐲 𝐂𝐫𝐢𝐬𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐝 𝐒𝐞𝐚 𝐚𝐧𝐝 𝐏𝐚𝐧𝐚𝐦𝐚 𝐂𝐚𝐧𝐚𝐥 The Red Sea crisis and Panama Canal drought impacted trade routes through two of the most vital maritime chokepoints in the world and sent shockwaves through the entire global supply chain. Immense pressure has been put on the industry as mass vessel diversions and freight rate volatility continue to this day. Our newest blog post provides a detailed recap of these trends, their impact on supply chains, and what the future may hold as conditions change. Click the link below to read the full blog on our website, and follow Falcone Global Solutions, LLC on LinkedIn to stay informed as these situations evolve. Full Post: https://ow.ly/94Ej50SfOJY #RedSeaCrisis #SuezCanal #PanamaCanal #oceanfreight #blog

In a press release this morning, the International Longshoremen's Association (ILA) announced a halt to negotiations with the United States Maritime Alliance (USMX), suspending talks that were scheduled for June 11. The decision was made after the ILA discovered that "APM Terminals and Maersk are utilizing an Auto Gate system, which autonomously processes trucks without ILA labor." The ILA claims that the use of this system violates the terms of the current Master Contract which is set to expire September 30 of this year. Less than a month ago, the ILA and USMX announced the expected start of negotiations over their master labor contract. Now, however, these negotiations are in jeopardy. The ILA represents around 85,000 workers at ports on the Atlantic and Gulf coasts as well as the Great Lakes and major US rivers, so any potential strike would have widespread negative impacts on maritime activity across the East Coast. With less than 4 months left until the contract expires, the ILA has "very little faith" that an agreement can be reached in time. Importers and shippers are now watching these developments much more closely, along with the labor disputes of Canadian railway workers and customs agents. With potential strikes threatening Canada's railways, the US-Canada border, and now the US East Coast, more shipments may be diverted to the US West Coast. To stay informed on labor negotiations across North America that could affect supply chains, follow us here on LinkedIn. Read more: https://ow.ly/RIza50SeFJZ #ILA #USMX #labor #strike #news

Salvage crews have cleared the last major piece of the Francis Scott Key Bridge from the main shipping channel of the Port of Baltimore and expect to fully open the channel between June 8-10. Partial access through the Fort McHenry Federal Channel has been permitted since May 20, when the containership Dali was refloated and moved. Now, the full restoration of the channel's 700-foot width and 50-foot depth should be completed this weekend. Read more: https://ow.ly/k0Lh50Sc5w8 #Dali #PortOfBaltimore #BaltimoreBridge #news