Industry Update: Ocean Freight Headlines
Partial Strike at Port of Montreal: Workers at the Port of Montreal started a partial strike Tuesday, April 13 after losing guaranteed minimum pay. Longshoremen and employers at the port have traded volleys throughout the year. In the latest move, workers will refrain from working overtime and weekend hours. According to the JOC, previous strikes have required diversions to the Port of Halifax.
Ships Remain Anchored Outside Ports of LA-LB: Dozens of vessels continue to wait for berth outside the port complex of Los Angeles and Long Beach. The latest numbers show twenty ships at anchor, down from the high of 40 in February. However, the port complex continues to see historic volume and reached its busiest March in its history last month. Port of Los Angeles Director Gene Seroka said in a press conference that they expect to clear the backlog of vessels by June.
Effects of Suez Canal Blockage Developing: The long-term effects of the six-day stoppage at the Suez Canal are still materializing. The initial wave of vessels blocked at the canal are reaching ports in Europe and Asia. Reports suggests that there has been no substantial slowdown at ports so far, but the situation could worsen in the coming weeks. Additionally, Egyptian authorities have impounded the Ever Given over a $900 million compensation bill.