News

Advisories

16 05 2024

  • Journal of Commerce

West Mediterranean Ports Struggle with Congestion

Rising volumes and larger ships are overwhelming container hubs in the West Mediterranean. Maersk estimates that the Asia-North Europe and Mediterranean trade will lose 15-20% of its capacity during Q2 ‘24 as carriers add more ships to maintain their weekly sailing schedules. 

Full story

14 05 2024

    U.S. Increases Section 301 Tariffs Toward China in Key Sectors

    The U.S. Government announced a range of new tariffs on Chinese imports. U.S. Trade Representative Katherine Tai released a statement that proposes the following Section 301 tariff modifications in strategic sectors: 

     

    Battery parts (non-lithium-ion batteries)          Increase rate to 25% in 2024 
    Electric vehicles          Increase rate to 100% in 2024 
    Facemasks        Increase rate to 25% in 2024 
    Lithium-ion electrical vehicle batteries           Increase rate to 25% in 2024 
    Lithium-ion non-electrical vehicle batteries  Increase rate to 25% in 2026 
    Medical gloves             Increase rate to 25% in 2026 
    Natural graphite  Increase rate to 25% in 2026 
    Other critical minerals  Increase rate to 25% in 2024 
    Permanent magnets  Increase rate to 25% in 2026 
    Semiconductors           Increase rate to 50% in 2025 
    Ship-to-shore (STS) cranes     Increase rate to 25% in 2024 
    Solar cells (whether or not assembled into modules)  Increase rate to 50% in 2024 
    Steel and aluminum products  Increase rate to 25% in 2024 
    Syringes and needles               Increase rate to 50% in 2024 

    More information

    08 05 2024

      Canadian National Railway & Canadian Pacific Kansas City Workers Threaten Major Strike

      Thousands of Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) railway workers—part of the Teamsters Canada Rail Conference (TCRC) union—recently voted to strike as early as Wednesday, 22 May 2024. A legal work stoppage could occur if the parties do not reach new collective agreements during the mediation period.

       

      Canada’s Transport Minister Pablo Rodriguez said the government is concerned and implored both sides to negotiate in good faith. Any work stoppage would likely cause significant disruptions, delays, congestion, additional costs, and equipment shortages.

       

       

      Latest updates

      • Journal of Commerce
      • Maritime Executive

      South Korea Invests in Container Capacity

      South Korea’s government will provide $4B in financing to help double the country’s container shipping fleet to 2M TEUs by 2030. This follows HMM’s 2022 announcement when the carrier pledged to invest $11.4B over five years for new vessels, terminals, and logistic facilities. HMM will expand its container ship fleet from 84 ships to 130 by 2030 while also increasing its lifting capacity from 920,000 TEUs to 1.5M. 

      • Busan recently launched a 7th container terminal, further extending its capacity. The new facility is the first fully automated terminal in the country featuring remotely controlled ship-to-shore (STS) cranes built in Korea. The automated transfer of cargo from ships is expected to raise the port’s productivity by up to 20% while also significantly lowering the risk of safety-related incidents. 

      Learn more

      28 04 2024

      • Journal of Commerce

      Dual-fuel Vessels Dominate Orderbook

      Almost 60% of new vessels delivered before 2030 are designed to run on alternative fuels. Still, market fragmentation is slowing the production and uptake of renewable fuels in the maritime sector. 

      Orderbook composition:  

      • LNG: 33.3% 
      • Methanol vessels: 21.1% 
      • Traditional bunker fuels: 45.6% 

      Learn more

      22 04 2024

      • Journal of Commerce
      • Maritime Executive

      Port of Portland Closure

      The Port of Portland will cease operations on 1 October 2024 amidst growing financial losses. After negotiations with a potential third party collapsed, the local port authority was faced with no port operator, a lack of financial support from the state, and mounting financial losses that could no longer be offset.  

      More information

      19 04 2024

      • International Railway Journal

      Uruguay Reopens Central Railway

      Uruguay reopened its Central Railway, an upgraded 273km north-south line from Paso de Los Toros to the Port of Montevideo.  

      Learn more

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      Michelle M. Morgado

      Director of Global Marketing

      michelle.morgado@oiaglobal.com