Category: Shipping and Logistics

In 2024, volatility with a capital “V” has been the rule. That will remain high heading into 2025.

Following the short-lived East Coast port labor strike in October, we now turn toward the Jan. 15 deadline to reach a long-term agreement.

After closing the third quarter -3.84% on a y/y basis, our first look at fourth-quarter flatbed spot rates puts us virtually flat y/y, coming in at -0.68%.

On Thursday, the International Longshoremen’s Association (ILA) and the US Maritime Alliance (USMX), representing carriers and port operators on the East and Gulf Coasts, announced a three-and-a-half-month extension of the recently expired collective bargaining agreement. The extension kicks the can down the road until Jan. 15, 2025, after the 2024 election and the certification of the results on Jan. 6.

The International Longshoreman's Association (ILA) union and the United States Maritime Alliance (USMX) reached a tentative agreement on wages on Thursday evening. The move ends a strike at East Coast and Gulf Coast ports that began on Tuesday and that had threatened significant supply-chain disruptions.

The International Longshoremen’s Association (ILA) launched a strike just after midnight on Tuesday at East Coast and Gulf Coast ports. The work stoppage spans from New England to New Orleans. It came after a last-ditch offer by the United States Maritime Alliance (USMX), which represents maritime employers, failed to meet union demands.

Unless a last-minute deal is struck by midnight on Monday, a massive work stoppage will hit ports up and down the East and Gulf Coasts on Tuesday and cause widespread supply chain disruption. Master contract negotiations remain stalled between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX). The employer group took […]

A potential labor strike is threatening to disrupt supply chains up and down the Atlantic and Gulf Coasts beginning next week.

Canada’s government has ordered an end to the brief rail stoppage which had threatened to disrupt the movement of commodities.

Two rail providers have locked out union workers at their operations in Canada.

A work stoppage could hit Canada’s rail network as two rail companies have said they will lock out union workers on Thursday if no labor agreement is reached.

The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) have just over two months left to reach a new labor agreement and avoid a strike at all Atlantic and Gulf Coast ports. However, with talks still suspended, ILA’s president says a strike looks more likely with each passing day.

Flood-level waters have prompted the US Army Corps of Engineers (USACE) to close locks on the Mississippi River.

Flatbed rates remain roughly 20% higher than dry van but have stayed relatively calm for the first half of 2024, rising just 5% in the first half of the year and remaining negative on a year-over-year basis.

Contract negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) have soured.

Roughly halfway through Q2, flatbed rates are holding firm, currently showing no change from April to May and a slight increase quarter-over-quarter (q/q).

As we navigate through the first half of 2024, we are seeing early signs of an inflationary rate environment for flatbed shipping, albeit slightly later than anticipated. Excess supply has persisted longer than expected for both flatbed and dry van, resulting in rates remaining lower than for longer than anticipated.

While shipping and supply chains have always been subject to wars, pirates, privateers, geopolitical issues, and natural disasters, it seems that “it’s been busier lately when it comes to dealing with significant supply chain disruptions,” according to logistics expert Anton Posner.

A container ship collided with the Francis Scott Key Bridge in Baltimore on March 26, causing it to collapse. This has blocked sea lanes into and out of Baltimore port, which is the largest source of US seaborne thermal coal exports. The port usually exports 1–1.5 million metric tons (mt) of thermal coal per month. It is uncertain when sea shipping will be restored. But it could be several weeks or more. There are coal export terminals in Virginia, though diversion to these ports would raise costs.

United Steelworkers (USW) union members in Canada have reached a tentative labor agreement with CN Rail.  

Mercury Resources CEO Anton Posner will be the featured speaker on SMU’s next Community Chat webinar on Wednesday, Feb. 21, at 11 am ET. The live webinar is free for all. A recording of the webinar and the slide deck are free for SMU members.

Just like doing business in any part of the steel supply chain, there are risks and unknowns in trading steel. But trading companies play an important part, helping businesses navigate the risks and unknowns as they pop up.

Turkish scrap import prices increased for a third consecutive week.

The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.

US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.

The leader of the International Longshoremen’s Association (ILA) warned that members on the East and Gulf Coasts could go on strike in October of next year when the union’s contract expires.

Unifor members at the St. Lawrence Seaway Management Corp. (SLSMC) have voted to ratify a new labor agreement.

Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast.

The St. Lawrence Seaway is reopening after a tentative agreement has been reached between striking Unifor members and the St. Lawrence Seaway Management Corp. (SLSMC).

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.