What's Brewing in Week 41

Now Serving:

Super Typhoon Krathon

Southern Taiwan faced high winds and torrential rains as the typhoon that previously hit northern Philippines moved towards Taiwan's largest port, Kaohsiung. 

Source: CNN World News

ILA / USMX

Dockworkers have returned to work under an extension of the current master agreement.   The tentative agreement was based on the agreed wage increase of $6, $5, $4, $3, $3, $3 (61~62%) over the next six years. It's important to understand that the two side have NOT completely agreed on the terms of a new master contract. The next 100 days will keep the parties at the bargaining table to discuss all other items, including automation. 

20 Minute Video Interview between Salvatore Mercogliano, Ph.D. &  William Doyle

Force Majeure

Carriers began invoking force majeure in relation to the ILA strike.  The clause refers to unforeseen catastrophic events and frees them from their normal maritime liability due to uncontrollable forces. 

Source: The Loadstar Article

Some cargo has been offloaded at Freeport (Bahamas) in order for vessels to return back to their home ports.  Current backlog and potential security risks are being assessed.  

Source: CNBC Article

Outlook for 2025 Air Cargo

Five factors shaping volumes next year are:

1.  Economic Conditions and Regional Variances

2.  Capacity and Demand Imbalance

3.  Geopolitical Tensions and Strikes

4.  U.S. and Eurpoean Legislation

5.  New Growth and Shifts in eCommerce

Read the full article for details