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  Marine cargo handled at the Port of Toronto generated $463.5 million in economic activity and 1,989 jobs in Ontario in 2022, details a new report – Economic Impacts of Marine Shipping in the Port of Toronto – published by Martin Associates. Economic Impacts of Marine Shipping in the Port of Toronto, which uses 2022 data, highlights the economic benefits of the Port of Toronto as a vital part […]

  By Leo Ryan, Editor Some 360 unionized Seaway workers in Canada have ratified a new three-year collective agreement that notably includes the settlement of a major wage issue. Wages will see annual increases of 5 %, 4% and 4%, retroactive to April 1st, 2023, along with a $2,000 signing bonus. Resumption of navigation on

  Danish shipping giant A.P. Moller-Maersk has announced plans to cut its workforce by 10,000 employees in face of “worsening market conditions” that have become the “new normal.” The phased reduction into 2024 will bring the global workforce below 100,000 positions. The current global shipping environment is marked by the bursting of the pandemic-fueled bubble. Lower

  Lévis, QC – Davie today announced it has finalized the acquisition of the assets of Finland’s Helsinki Shipyard Oy (HSO). The historic transaction combines the skills, experience and capabilities of two leaders in Arctic shipbuilding and other high-value products. While the Canadian and Finnish shipyard will be separate legal and operating entities, the business

  Rimouski – Novarium, the innovation campus dedicated to the blue economy, announces a strategic partnership with the Port of Québec, one of the five largest ports in Canada. This collaboration aims to create a dynamic ecosystem that promotes innovation, research and sustainable development in the marine sector, while exploiting the unique advantages offered by

  The market is heading into a traditional downcycle, as 2023 is seeing significant excess capacity being delivered, and in all likelihood the same will happen in 2024, reports Sea-Intelligence. The question then remains of when the current and overcoming overcapacity market will balance again. On this matter, CEO Alan Murphy offers little hope of

  The U.S. Coast Guard has unveiled what is called an Arctic Strategic Outlook Implementation Plan that opens the door to acquiring commercially-available icebreakers to address short-term capacity gaps. The plan comprises 14 initiatives ranging from enhancing Arctic operations and exercises to expanding surface capabilities and associated support infrastructure with a view to promoting safety,

  With drought conditions worsening, the Panama Canal Authority (ACP) has announced drastic new transit restrictions on the international waterway being phased in over the next three months. An updated plan would see transits reduced by 43 percent by February 1, 2024. Large containerships and LNG and LPG carriers  will be among the most impacted

  The Minister of Transport, the Honourable Pablo Rodriguez, and the Minister of Public Services and Procurement, the Honourable Jean-Yves Duclos, today announced that a contract has been awarded to Pilitak Enterprises Ltd., an Inuit company, to construct a new National Aerial Surveillance Program (NASP) aircraft hangar in Iqaluit, Nunavut. The contract is valued at $45.9 million and construction

  The innovation hubs of the Port of Hamburg (homePORT), the Port of Halifax (The PIER) and the Port of Valencia (Opentop) have announced they have started working toward the design and setup of the first network of innovation hubs in ports. The announcement of this new initiative took place last week during the Port