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☆ A trucking and rail strategy that boomed during pandemic shocks is heating up again
▼ + stars: | 2024-03-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

The shift in the volume of freight being moved from the East Coast to the West Coast was first highlighted in February in the ITS Port Rail Ramp Freight Index. He said the disruptions from the Suez Canal and Panama Canal have contributed to an almost 20% increase into the West Coast ports. "For our ports, transloading containers is always going to happen and we have the capacity to do more." The West Coast container volume rebound will also have a ceiling. "We probably don't get to the historical 10-year levels of West Coast market share versus East Coast share," Chan said.

Persons: Michael Aldwell, Kuehne + Nagel, Chris Sikora, CH Robinson, Sikora, Tim Robertson, transloading, Paul Brashier, We're, Brashier, Bryan Kempisty, Matt Schrap, Bruce Chan, Chan, CH, Bascome Majors, J.B, Hunt, Schneider, JB Hunt, Jason Seidl, Knight, Swift, Seidl, Larry Organizations: Getty, U.S, Logistics, CNBC, Kuehne, Transportation Intelligence, . Logistics, DHL Global, ITS, Rail, ITS Logistics, Department of Transportation's, PortX Logistics, Harbor Trucking, J.B, Susquehanna International Group, Hub Group, Schneider, Union Pacific, Cowen Group, Universal Logistics Holdings, East, International Longshoremen's Association, Surface Transportation, Canadian Pacific, Kansas City Southern, Uber, Uber Technologies Locations: West Coast, East Coast, Panama, East, Red, Gulf, transload, transloading, West, Suez, Hunt, CH Robinson, Sea, Mexico, Kansas, Mobile , Alabama, Coatzacoalcos, Veracruz, Gulf of Mexico

☆ CEO of Hapag-Lloyd, one of world's top ocean shippers, says the outlook has changed for global economy, trade demand
▼ + stars: | 2024-03-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

We saw them coming up a bit towards the end of the quarter, and then of course, the Red Sea crisis ... which again changed the market." Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth-largest ocean carrier, tells CNBC he has an improved view on trade for the rest of 2024. "It's a concerning situation and I think the [Red Sea] outlook is very difficult," Jansen said. In addition to the added costs, according to Sea-Intelligence, the Red Sea diversions could increase carbon dioxide emissions by 260%–354%. New ocean alliance with MaerskThe reduction in global freight and schedule reliability are headwinds ocean carriers have been facing for months.

Persons: Lloyd, Jansen, Rolf Habben Jansen, Hapag Lloyd, Hansen, it's, Lars Østergaard Nielsen, Nielsen, " Hansen Organizations: CNBC, Intelligence, EU, Trading, Maersk, Hapag, Gemini, Sea, MSC Locations: U.S, Asia, West Coast, East Coast, Gulf Coast, Red, Aden, Yemen, Africa, Europe, Suez, Panama, California

☆ There's been a rebound in volatile shipping stocks. The market opportunity isn't over, report says
▼ + stars: | 2024-03-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

During 2022-2023, ocean carriers used some of those reserves for their own buying sprees to expand their footprints. While adding to the ocean carrier bunker fuel costs, they are being compensated.. "The Red Sea diversions are a good thing for ocean carriers. The big question mark is the duration of the diversions and the surcharges the ocean carriers can charge. Those two regions have steadily taken market share away from the West Coast ports, with shippers also benefitting from investments in ports infrastructure. "The West Coast ports have strengthened infrastructure," Iampieri said.

Persons: Marc Iampieri, Cash, Iampieri, Jeff Bezos, It's, Paul Brashier, Brashier, AlixPartners Organizations: Bloomberg, Getty, Dow Jones Transportation, Fortune, Convoy, Amazon, Technology, Ocean, Maersk, CNBC, ITS Logistics Locations: Panama, Red, East Coast, AlixPartners, Flexport, Europe, North America, Asia, West Coast, East, Gulf, Mexico, West, Los Angeles, Long

☆ Fears of prolonged Red Sea shipping crisis fuel inflation fears, as oil, retail cargo delays rise
▼ + stars: | 2024-01-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

"If so, we expect the soaring freight rates and equipment shortage will continue till the third quarter," it advised clients. This would be on top of the revenue lost by diverted container vessels which are required to pay between $500,000-$600,000 per transit. "However, given the longer transit times vessels are experiencing, the market may face a shortage of empties across Asia until sailings normalize." Evelyn Fornes, Home Depot spokeswoman, said it is working with logistics carriers to find alternate routes to limit any impact from the Red Sea conflict. East Coast freight rates soar While freight rates for U.S. West Coast ports have yet to spike, freight rates for the East Coast and Gulf are up.

Persons: Folden, Shell, Jean, Charles Gordon, Nyttingnes, Torm, Euronav, Tom, Hafnia, Andy Lipow, Kuehn, Nagel, Ami Daniel, Goetz Alebrand, Stephen Schwarz, Paolo Montrone, Kuehn + Nagel, Alan Baer, Baer, Evelyn Fornes, Fornes, Lane Organizations: Galaxy, Houthis Media, Getty Images, Anadolu, Getty, U.S, Clarksons Securities, Honour Lane Shipping, Wall Street, Shell, Suez, Authority, Lipow Oil Associates, Logistics, CNBC, DHL Global, Asia Pacific, Kuehn, USA, Home, Costco, Walmart, Home Depot, Volvo, Michelin, Ikea, East, U.S . Locations: Iran, Yemen, Anadolu, Hafnia, Ardmore, Suez, Israel, Americas, Asia, Europe, Wells Fargo, Red, U.S, East Coast, U.S . West Coast, Gulf, East, West, West Coast

☆ White House puts corporate 'price gouging' front and center: 'We see American families hurting'
▼ + stars: | 2023-11-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Companies should pass those savings on to consumers," White House Press Secretary Karine Jean-Pierre told reporters aboard Air Force One, en route to Colorado. "That's why taking on price gouging has been part of the President's economic agenda." But drawing a direct line from corporate pricing practices to how voters feel about the economy could prove challenging for the Biden White House. "Whether it's junk fees, whether it's price gouging, whether it's calling out big pharma, whether it's calling out big oil, we're going to continue to do that," Jean-Pierre said Tuesday. "Because of the price gouging, we see American families hurting," she said.

Persons: Joe Biden, Joe Biden's, Karine Jean, Pierre, Biden, Jean Organizations: Warehouse Union, Pacific Maritime Association, White, Companies, House Press, Air Force, Black, Biden White, Consumers Locations: Washington ,, Colorado

☆ The holiday spending outlook is sluggish across thousands of retailers: CNBC Supply Chain Survey
▼ + stars: | 2023-11-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

Photographer: Christopher Dilts/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesAs holiday shopping season begins, lack of big orders from retailers is the rule amid fears that consumer spending will be weak, according to a new CNBC Supply Chain Survey. At the CNBC Evolve Global Summit last Thursday, Target CEO Brian Cornell said the company is doubling down on its cautious outlook for the holiday season. The CNBC Supply Chain Survey was conducted October 21-October 31 among logistics executives who manage freight manufacturing orders and transportation, including those at C.H. Lunar New Year and order volumes The CNBC Supply Chain Survey underscores an overall climate of uncertainty that is defining the market right now. The freight trucking recession Trucking companies get paid per load, and the low expectations for orders imply potentially lower revenue this holiday season.

Persons: Christopher Dilts, Robinson, Noah Hoffman, Hoffman, Jeremy Barnum, Brian Cornell, Raj Subramaniam, restocking, Kuehne, Nagel, Paul Brashier, Tim Robertson, Robertson, Brian Bourke, Elmer Buchta, Jeff Bezos, Uber, Brashier, Berkshire Hathaway, Alan Baer Organizations: Bloomberg, Getty Images Bloomberg, Getty, CNBC Supply Chain Survey, North American Surface Transportation, CNBC, Global, FedEx, Chain Survey, SEKO Logistics, USA, ITS Logistics, Amazon, Maersk, Logistics, Convoy, Tank Transport, U.S ., Union Pacific, BNSF, Norfolk Southern, CSX Locations: Chicago , Illinois, C.H, U.S, China, United States, Montana, Indiana, Panama, West Coast, U.S . West Coast, Los Angeles, Berkshire, West, East Coast

☆ Panama Canal drought hits new crisis level with nearly half of vessel traffic targeted for cuts
▼ + stars: | 2023-11-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

PANAMA CITY, PANAMA - SEPTEMBER 22: The container ship Maersk Bogor is guided by a tugboat as it prepares to enter the Miraflores locks while transiting the Panama Canal on September 22, 2023 in Panama City, Panama. The Panama Canal Authority is continuing to restrict the number of vessels that pass through the Panama Canal locks as drought has caused water levels at Gatun Lake to drop. Over one hundred ships are waiting to transit the canal and the backup could delay goods heading to the United States for the holiday season. The Panama Canal is popular for East Coast trade because it is faster than other options. Traveling through the Panama Canal takes only 35 days.

Persons: Justin Sullivan, Adil Ashiq, Alan Baer, Baer, Jon Davis, Davis, Ashiq, Paul Brashier Organizations: PANAMA CITY, The Panama Canal, Port, CNBC Supply Chain, Panama Canal Authority, East, Panama Canal, MarineTraffic, USA, CNBC, U.S, ITS Logistics Locations: PANAMA, Bogor, Miraflores, Panama, Panama City, The Panama, Colon, Caribbean, United States, Cape Horn, South America, East, Charleston, El Nino, East Coast, Shenzhen, China, Miami , Florida, Suez, North America, U.S, West Coast, Asia, Gulf

☆ ILWU Dockworkers Union’s Sway at West Coast Ports Is Tested in Bankruptcy
▼ + stars: | 2023-10-02 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, d00b2b98

☆ America is on strike. Here’s the progress unions have made
▼ + stars: | 2023-09-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

While the WGA settled its strike recently, winning improved wages and job protections, SAG-AFTRA remains on strike, and most filming remains on hold. They won a reported 32% increase in pay over the six-year life of a contract reached in June and ratified earlier this month. Many of the health care workers unions say their main issue is lack of adequate staffing and the workers’ belief that they’re not able to provide the level of care they want without more help. The Biden administration and Congress stepped into a labor dispute late last year when freight railroad workers threatened to strike. “Labor unions are enjoying a moment of high public approval and strong belief in the benefits they offer to workers, businesses and the economy,” said a Gallup statement.

Persons: Joe Biden’s, ”, “ It’s, Wheaton, “ You’ve, “, you’ve, ” Biden, Ronald Reagan, That’s, they’re, Biden Organizations: New, New York CNN, United Auto Workers, UAW, General Motors, Ford, Cornell University’s Industrial, Labor Relations, ’, Guild of America, SAG, Hollywood, Screen Actors, WGA, Kaiser Permanente, Teamsters, UPS, Warehouse Union, Cornell University School of Industrial and Labor Relations, Unions, Warrior, United Mine Workers, Congress, Gallup, “ Labor Locations: New York, United States, Buffalo , New York, California , Oregon, Washington , Colorado, Virginia, Washington, Coast, Kaiser, Los Angeles, New York City, Alabama

☆ Autoworkers strike: What to watch for as the clock ticks down
▼ + stars: | 2023-09-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

Here’s what to watch as the clock ticks down:Which plants would go on strike? One advantage of a targeted strike for the union is the potential to save resources and extend a possible walkout. Striking union members are eligible for $500 a week from the union’s strike fund. Ford has not had a national strike since 1976 and has not had a strike of any kind at its US plants since 1978. Sometimes after talks break down, the parties can return to the table and reach a deal without a strike.

Persons: Jeff Schuster, ”, Schuster, Shawn Fain, Fain, We’re, –, ’, Ford, Wheaton, Will Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, GlobalData, UAW, GM, Stellantis, Jeep, Dodge, Chrysler, Cornell University’s Industrial, Labor Relations, Warehouse, Writers Guild of America, Alliance, Television Producers, UPS, Teamsters Locations: New York, America, Kokomo , Indiana, Toledo , Ohio, Livonia , Michigan, Stellantis, Buffalo, West

Biden's Labor Day prediction that the union would not strike against Detroit's automakers ahead of a Sept. 14 contract deadline was soundly rejected by UAW President Shawn Fain. White House Press Secretary Karine Jean-Pierre said Biden's comments about the UAW over Labor Day was him being "an optimistic person." The White House has tried to play a role in several recent large-scale union contract negotiations involving rail workers and West Coast port workers. Trump won Michigan in 2016, helping propel him to the White House; Biden beat him by 154,000 votes in Michigan in 2020. Around half a million more threatened strikes in the first half of 2023, estimates from national labor unions show.

Persons: Joe Biden's, Biden, Biden's, Shawn Fain, Fain, Karine Jean, Pierre, Kate Bronfenbrenner, Donald Trump, Trump, Joe Biden, Joshua Roberts, Harley Shaiken, Shaiken, Nandita Bose, David Shepardson, Joseph White, Heather Timmons, Deepa Babington Organizations: UAW, Biden's Labor, Detroit's, House Press, Labor, General Motors, Ford, carmakers, Anderson Economic, Cornell University's School of Industry & Labor Relations, White House, Wednesday, Workers, Republican, Michigan, State Labor, Metal Workers, Local, REUTERS, University of California, Bureau of Labor Statistics, EV, White, Energy Department, Teamsters, UPS, House, Thomson Locations: Detroit, America, Pennsylvania, Michigan, West Coast, Philadelphia , Pennsylvania, U.S, Berkeley, Michigan , Ohio , Indiana , Illinois, Belvidere , Illinois, Washington

☆ Biden to hail West Coast dockworker union contract as possibility of UAW strike looms
▼ + stars: | 2023-09-06 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

WASHINGTON — President Joe Biden will celebrate the recent West Coast dockworker contract in a ceremony at the White House on Wednesday. Last week, the ILWU and the PMA ratified a contract after more than a year of negotiations that prompted the Biden administration to get involved. The contract is set to last for six years and was approved by 75% of union members who voted. It included increased pay and benefits for 22,000 workers across 29 ports on the West Coast. Chronic worker slowdowns plagued the ports as negotiations lagged on, in some cases diverting shipments and leading to temporary port closures.

Persons: WASHINGTON, Joe Biden, Biden, slowdowns Organizations: ., White, Warehouse Union, Pacific Maritime Association, Biden, PMA Locations: . West Coast, West

☆ West Coast Ports Face Hurdles Winning Back Importers
▼ + stars: | 2023-09-04 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/west-coast-ports-face-hurdles-winning-back-importers-3cc62cb7

Persons: Dow Jones

☆ Dockworkers Ratify Labor Deal at West Coast Ports
▼ + stars: | 2023-09-01 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/dockworkers-ratify-labor-deal-at-west-coast-ports-f0dc23e

Persons: Dow Jones

☆ US West Coast port workers ratify contract agreement
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Containers are shown staked-up at the Port of Long Beach as supply chain problem continue from Long Beach, California, U.S. November 22, 2021. Members of the ILWU voted 75% in favor of approving the West Coast port worker agreement that will expire on July 1, 2028. The union and the Pacific Maritime Association (PMA) employer group reached a tentative contract deal in June. That ended 13 months of talks and eased worries that related West Coast port disruptions could hit the all-important retail holiday shipping season. West Coast ports lost some business to U.S. rivals on the East Coast and Gulf of Mexico as extended talks fueled uncertainty.

Persons: Mike Blake, Willie Adams, Jim McKenna, Pratyush Thakur, Lisa Baertlein, Krishna Chandra Eluri, Sandra Maler Organizations: Port, REUTERS, dockworkers, Washington State, Warehouse Union, West, Los Angeles, Pacific Maritime Association, Thomson Locations: Port of Long Beach, Long Beach , California, U.S, California, Washington, Long, United States, West Coast, East Coast, Gulf of Mexico, Bengaluru, Los Angeles

☆ 'This is going to get worse before it gets better': Panama Canal pileup due to drought reaches 154 vessels
▼ + stars: | 2023-08-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

A ship navigates through the Panama Canal in the area near the Americas' Bridge in Panama City on April 24, 2023. The Panama Canal is a critical trade link for U.S. shippers heading to Gulf and East Coast ports. The U.S. is the largest user of the Panama Canal, with total U.S. commodity export and import containers representing about 73% of Panama Canal traffic. The massive pileup is a result of water conservation measures the Panama Canal Authority deployed in late July due to drought. West Coast ports saw a decrease of 38.3% in July trade, and top East and Gulf Coast ports processed an increase of 46.4%.

Persons: Luis Acosta, Max, Adil Ashiq, Ricaurte Vásquez Morales, Ashiq, Descartes, Stephen Lamar Organizations: Afp, Getty, Panama Canal Authority, Labs, Planet Labs, PCA, Port, MarineTraffic, American Apparel & Footwear Association Locations: Panama, Americas, Panama City, Gulf, East Coast, U.S, Pacific, Port of Balboa, Port of Savannah, North America, Gatun, Coast, West Coast

☆ Western Canada dock workers vote to accept contract offer
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File Photo/File PhotoAug 4 (Reuters) - Dock workers in Western Canada voted to accept an improved labor contract after a month-long dispute that affected trade and disrupted operations at the country's busiest ports, their union said on Friday. The vote was 74.66% in favor of the terms of the settlement, the International Longshore and Warehouse Union (ILWU) said in a statement. The union provisionally agreed to a new contract on Sunday, averting an immediate strike, but the agreement needed to be approved by workers. The government had directed the Canada Industrial Relations Board to resolve the dispute after workers rejected a previous contract. Ottawa was seeking to keep two of Canada's three busiest ports - Vancouver and Prince Rupert - open.

Persons: Chris Helgren, Prince Rupert, Seamus O'Regan, ILWU, O'Regan, David Ljunggren, Gursimran Kaur, Simon Cameron, Moore, William Mallard Organizations: Port, Warehouse Union, REUTERS, Canada Industrial Relations Board, Ottawa, Canada's, British Columbia Maritime Employers Association, Canada’s, Thomson Locations: Vancouver, Vancouver , British Columbia, Canada, Western Canada, British, Canada’s West Coast, Bengaluru

☆ Rail freight from Canada to U.S. continues to drop after ports strike
▼ + stars: | 2023-07-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Last week, total rail volume from Canada to the U.S. was down 12%, according to The Association of American Railroad's latest rail traffic report for the week ending July 22. This was an improvement given the first full week of the strike saw a 46% decrease in rail trade from Canada, and the second week suffered a 36% decrease. Rail traffic from Canada into the U.S. had a third-straight weekly drop as a result of the on-again, off-again strike at the West Coast Canadian ports. When the first strike ended on its thirteenth day, delays for rail containers were estimated at 39 to 66 days. Adding another day with the on-again, off-again strike last week, brings the congestion removal tally up to 42-70 days.

Persons: Port of Prince Rupert, Doug Macdonald, Rupert, Blaine Davidson, Terri Shimensky, Shimensky, Eric Byer, Byer, NACD Organizations: The Association of American, West Coast, Railway Association of Canada, CNBC, The Railway Association of Canada, Port, National Association of Chemical Distributors, CN, U.S ., Railroads, Canada, Association of American Railroads Locations: Canada, Port of Vancouver, Port of, Vancouver, Ohio, of Long, U.S . West Coast, U.S, Chicago, West

☆ Canadian West Coast ports strike to be decided in all-union vote on Tuesday
▼ + stars: | 2023-07-21 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

The fate of operations at West Coast ports in Canada will be decided on Tuesday, July 25, when rank-and-file members of the International Longshoremen and Warehouse Union Canada will vote on a tentative deal with port ownership. The plan to send the deal to a full union vote comes after a week of confusion and turmoil at the ports. For the vote, work will stop from 8 a.m.-4 p.m. Pacific Time on Tuesday across all ports. Weekly rail trade data aggregated by the American Association of Railroads reveals a total decrease of 82.4% in rail trade over the course of the 13-day strike. When the first strike ended on its thirteenth day, delays for rail containers were estimated at 39 to 66 days.

Persons: Seamus O'Regan, Vancouver and Prince Rupert, Eric Byer, Byer, Destine Ozuygur Organizations: Warehouse Union Canada, Canadian, British Columbia Maritime Employers Association, Canada's Labor, Logistics, CNBC, American Association of Railroads, Railway Association of Canada, Port, U.S . Trade, U.S, The National Association of Chemical Distributors, Canadian National Railroad, Government, Trade Locations: West Coast, Canada, British, Vancouver, U.S, Port of Vancouver, West, United States, eeSea

☆ Canadian port workers back on strike after voting down government-brokered deal, returning supply chain to 'turmoil'
▼ + stars: | 2023-07-19 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

Photographer: Ben Nelms/Bloomberg via Getty ImagesThe supply chain is in turmoil again with International Longshore & Warehouse Union West Coast Canada members walking off the job after a key union caucus voted down a tentative deal that had temporarily ended the West Coast ports strike last week. Rob Ashton, president of the ILWU Canada, said in a statement that it did not believe the recommendations had the ability to protect union jobs. His group estimated that the first strike would cause an average 6-8 weeks of supply chain disruption before conditions would return to normal. The National Association of Chemical Distributors told CNBC some chemical companies are expected supply chain congestion until October as a result of the strike. Critical chemicals that go into food, cleaning, water purification, and personal care, among many others, flow through the West Coast ports of Canada and down to the United States.

Persons: Prince Rupert, of Prince Rupert in Prince, Trudeau, He's, Kinder Morgan, Ben Nelms, Rob Ashton, Seamus O'Reagan, " O'Regan, Steve Lamar, Lamar, Vancouver and Prince Rupert, Destine Ozuygur, Ozuygur, Eric Byer, Byer, HLS, Captain Adil Ashiq, Ashiq, Paul Brashier, BCMEA Organizations: Prince Rupert Grain Ltd, Canadian, Enbridge Inc, Kinder, Kinder Morgan Inc, Bloomberg, Getty, Warehouse Union, Coast Canada, British Columbia Maritime Employee Association, Canada's Labor, Canada's Transport, Canada Industrial Relations Board, Logistics, CNBC, American Apparel and Footwear Association, Railway Association of Canada, U.S, Port, HLS Shipping, Association of American Railroads, National Association of Chemical Distributors, Canadian National Railroad, Government, ., U.S ., ITS Logistics Locations: of, of Prince Rupert in Prince Rupert, British Columbia, Canada, Petroliam Nasional, West, British, Vancouver, U.S, Port of Vancouver, eeSea, United States, . West Coast, East Coast, China, U.S . West Coast, U.S . East Coast, North America, East, Asia

☆ Canadian West Coast ports strike is over, but it will take weeks for supply chain to recover
▼ + stars: | 2023-07-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Darryl Dyck | Bloomberg | Getty ImagesThe strike at the Canada's West Coast ports is over, after both the labor union and port ownership accepted a deal presented by federal mediators. ILWU Canada union workers were expected to be back on the job for the 4:30 p.m. Pacific time shift on Thursday, but undoing the damage to the supply chain from close to two weeks of strike will take weeks. While the production ramp down at the ports was seen immediately, the congestion as a result of the 13-day strike will have a lasting effect on ports. The International Longshoremen and Warehouse Union of Canada begin its strike on July 1. The ports strike has already damaged the U.S. supply chain.

Persons: Darryl Dyck, Seamus O'Regan, Omar Alghabra, O'Regan, Prince Rupert, HLS, Eric Byer, Byer, Vancouver and Prince Rupert, Sara Elena, Willie Adams Organizations: Port Metro Vancouver, Bloomberg, Getty, Twitter, Canadian Labor, Warehouse Union of Canada, British Columbia Maritime Employers Association, Vancouver, US Inland Port, U.S ., Carriers, American Association of Railroads, National Association of Chemical Distributors, CNBC, Port, U.S, Products, Canada, Canadian Chamber of Commerce, Railway Association of Canada, MSC Brunella, ILWU U.S, West Coast, Logistics, Customs Locations: Vancouver , British Columbia, Canada, Coast, U.S, British, Vancouver, U.S . West Coast, Asia, Port of Vancouver, West Coast, Africa, United States

☆ Rail trade from Canada plummets due to West Coast ports strike, down nearly 50%
▼ + stars: | 2023-07-12 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Year-over-year intermodal Canadian rail was down 46.2% last week as a result of the strike. Weekly rail trade data from the Association of American Railroads shows the devastating impact that Canadian West Coast ports strike is having on freight rail cargo entering the U.S. The U.S. and Canada have a historically strong trade relationship: Each country is the other's top trading partner. The Canadian Chamber of Commerce estimates $605 million in trade moves through one of those two ports daily. The International Longshoremen and Warehouse Union of Canada begin its strike on July 1.

Persons: Vancouver and Prince Rupert, Paul Brashier, Prince Rupert, Brashier, Eric Byer, Byer, Willie Adams, Sara Elena, Medea, Rob Ashton, Steve Lamar Organizations: AAR, Association of American Railroads, Railway Association of Canada, Canadian Chamber of Commerce, Warehouse Union of Canada, British Columbia Maritime Employers Association, ITS Logistics, ITS, U.S ., National Association of Chemical Distributors, Products, CNBC, Hyundai, CMA, Canadian Labor, Labor, Bank of Canada, American Apparel and Footwear Association Locations: West Coast, U.S, Canada, Vancouver, British, United States, U.S . West Coast, East Coast, Western Canada, Asia, Chicago, San Francisco

☆ Containerships diverted from Vancouver amid port strikes, headed for Seattle
▼ + stars: | 2023-07-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Two containerships originally bound for the Port of Vancouver are changing course and have been diverted to the Port of Seattle, according to VesselsValue tracking data, as labor strikes at West Coast ports in Canada stretch into their sixth day. The distance between the Port of Vancouver and the Port of Seattle is a little over a half-day's trip traveling at typical speeds. New data from MarineTraffic shows 15 containerships bound for Vancouver and 9 containerships bound for Prince Rupert. They were scheduled to arrive at the Port of Vancouver on July 3 and were then destined by rail for Memphis. The ocean carriers are the final arbiter in any container destination change.

Persons: Sara Elena, It's, Prince Rupert, Port of Prince Rupert, Paul Brashier, Brashier Organizations: Port, CNBC, Tacoma . ITS Logistics, ITS Logistics, American Apparel and Footwear Association, National Retail Federation, British Columbia Maritime Employers Association, Warehouse Union Locations: Vancouver, Port of Seattle, West Coast, Canada, San Francisco, Port of Vancouver, Seattle, Port, Port of, Asia, Tacoma, Memphis, United States, British

☆ Canadian West Coast ports negotiation reaches impasse as port owners say 'course change' required
▼ + stars: | 2023-07-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

ILWU Canada President Rob Ashton did not respond to CNBC's request for comment by the time of publication. The value of the combined 181,458 containers floating off the ports of Vancouver and Prince Rupert reached $12 billion, based on a $65,225 value per container, and Canadian customs data. The ILWU Canada division strike began Saturday. More than 99% of members of the union, which supports West Coast ports such as Vancouver and Prince Rupert, voted to approve the strike last month. "The ILWU Canada Longshore Division has not taken this decision lightly, but for the future of our workforce we had to take this step," Ashton said in a post.

Persons: Justin Sullivan, Rob Ashton, Willie Adams, Ashton, Vancouver and Prince Rupert, Prince Rupert Organizations: Port, Getty, Maritime Employers Association, Warehouse, Labor, CNBC, West, Canadian, Facebook, MarineTraffic, ILWU Canada, Canada Longshore Locations: Port of Vancouver, Canada, U.S, Vancouver, West Coast

A union representing port workers in Western Canada officially began striking, an action that could have ripple effects reaching beyond the U.S.'s northern neighbor. The International Longshore & Warehouse Union Canada's Longshore Division announced its labor strike began in a Saturday Facebook post signed by union president Rob Ashton. More than 99% of members of the union, who support West Coast ports such as Vancouver and Prince Rupert, voted to approve the strike last month. In an email to CNBC, BNSF said it had no comment on a strike impact. In a CPKC customer advisory issued Wednesday, the railway said: "The work stoppage related to this notice could impact port operations in British Columbia.

Persons: Rob Ashton, Prince Rupert, Ashton, Seamus O'Regan Jr, Port of Prince Rupert, Paul Brashire, of Prince Rupert, Berkshire Hathaway, CPKC, Steve Lamar Organizations: Warehouse, Longshore Division, Facebook, Canada Longshore, British Columbia Maritime Employers Association, Canadian, U.S, CNBC, Tacoma ., Longshoremen's Association, Warehouse Union, ITS Logistics, Port, BNSF, American Apparel and Footwear Association Locations: Western Canada, West Coast, Vancouver, British, Canada, Port, Port of, Asia, Seattle, Tacoma, U.S, Chicago, Detroit, of, Canadian Pacific, Berkshire, British Columbia

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