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The Retail Rundown: Port Strike Sends Shockwaves Throughout Supply Chain
The strike at East and Gulf Coast ports officially began once the calendar turned to October, following unsuccessful contract negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX).
The strike's impact is being felt throughout the supply chain, causing significant disruptions in the flow of goods ahead of the rapidly approaching holiday season.
In a statement released on Tuesday, USMX stated that its current offer includes a nearly 50% wage increase. In response, ILA said it has rejected USX's offer "because it fails to address...
DOA: Australian Government Phase Out of Live Sheep Exports by Sea
Decision on how and when
The Australian Government has announced the export of live sheep by sea will end on 1 May 2028.
Legislation will be introduced in this term of the Australian Parliament to end the trade in law.
Trade can continue until the end date without any additional restrictions such as caps or quotas. The prohibition will not apply to other livestock export industries, such as live cattle exports, nor will it apply to live sheep exports by air...
Europe Looking Towards Air Freight Solutions Due To Continuing Attacks in Red Sea
As Houthi terrorists continue to attack in the Red Sea, shipping and logistics companies also continue to provide updates on what the developments mean for cargo.
U.S. Central Command confirmed on March 12 that between 2 a.m. and 4:30 a.m. Sanaa time, Iranian-backed Houthi terrorists “fired one close-range ballistic missile from Houthi-controlled areas of Yemen toward USS Laboon in the Red Sea.” The U.S. government agency revealed that the missile did not impact the vessel, and that there...
Maersk Says All Vessels Due to Transit the Red Sea Will Be Diverted For ‘Foreseeable Future’
Despite warnings from the U.S. and other countries to cease attacks, the Houthi rebels show no signs of stopping. Shipping company Maersk says that as the situation continues to evolve and “remains highly volatile,” they have made the decision to divert all Maersk vessels that are due to transit the Red Sea/ Gulf of Aden for “the foreseeable future.” Vessels that were due to travel through the Red Sea will continue to be diverted south around the Cape of Good Hope.
“We understand...
Oil Up 2% Ahead of Fed Meet as Middle East Conflict Rages
Oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus.
Brent January crude futures were up about 2.5%, or $2.08, to $87.10 a barrel by 1316 GMT. U.S. West Texas Intermediate crude futures gained roughly 2.8%, or $2.24, to $83.26 a barrel.
The Fed, which will end its meeting on Wednesday, is widely expected to hold rates steady...
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