Setting New Standards

Though brief, the strike will result in capacity reductions on some trade lanes, with ripple effects lasting through mid-November. The Asia-US East Coast route will see a 17% capacity drop by mid-November, while trans-Atlantic shipments will experience multiple dips in capacity. Jensen warned that disruptions could affect exports from Europe, Latin America, and Asia in the coming weeks.

Shipping carriers are also concerned about equipment shortages and supply chain disruptions caused by the strike.

Additionally, another potential labor stoppage looms in January if the International Longshoremen’s Association and US Maritime Alliance fail to reach a new contract. This could lead to cargo surges as companies front load shipments, especially if tariff concerns arise with a potential Donald Trump election win.

This alliance aims to achieve 90% service reliability, significantly higher than the current industry average of 53%. The Gemini Cooperation will use a "hub and spoke" model, focusing on transshipment hubs to improve schedule stability and prevent delays from escalating.

Despite rerouting ships around the Cape of Good Hope due to conflicts in the Red Sea, the leaders remain confident in meeting their reliability target.

The cooperation will operate across seven trade routes with 57 services, emphasizing a structured approach to transshipment to enhance reliability.

This new ocean network model is expected to set a high standard in the shipping industry.

This action is part of an ongoing labor dispute with maritime employers, as the union seeks better work scheduling terms.

The overtime strike could impact up to 10 vessels and cause delays at Montreal's four main international container terminals. However, liquid bulk, grain handling, and short-sea container services remain unaffected.

The union has been without a contract since the end of 2023, despite ongoing federal mediation.

Canada’s Labor Minister, Steve MacKinnon, has suggested a 90-day cooling-off period with the appointment of a special mediator to help resolve the deadlock. Both the union and the employers are considering the proposal, with a decision expected by Friday.