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Alphaliner sees container overcapacity increasing

  Despite initiatives by carriers of blanking sailings, combining routes and scrapping older, smaller vessels, overcapacity in container shipping will continue to increase due to weak economies and record orderbooks, according to the Alphaliner consultancy in its latest market assessment. As a result, industry analysts anticipate a continued downward pressure on ocean freight rates. Alphaliner 

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Stéphane Lafaut announces his departure as CEO of STQ (in French)

  Québec – La Société des traversiers du Québec (STQ) annonce qu’après près de quatre ans à la tête de la société d’État, son président-directeur général (PDG), M. Stéphane Lafaut, entreprendra un nouveau défi professionnel qui sera annoncé au cours des prochaines semaines. Il s’agit d’une décision personnelle qui a été mûrement réfléchie. Afin d’assurer

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U.S. Great Lakes iron ore trade sharply down

  CLEVELAND – Shipments of iron ore from U.S. ports on the Great Lakes totaled 5.1 million tons in September, a decrease of 5.6 percent compared to a year ago, reported the Lake Carriers Association. Shipments were below the month’s 5-year average by 6.5 percent. Year-to-date, the iron ore trade stands at 29.2 million tons,

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Termont superintendents at Port of Montreal sign new collective agreement 

  The 21 superintendents with the Termont terminal at the Port of Montreal have signed a new collective agreement, the Canadian Union of Public Employees announced. The eight-year contract includes wage increases of more than 40 per cent over the life of the agreement. “Negotiations were exemplary in that both parties didn’t want to lose qualified

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ICS proposes global CO2 reduction fund to reward ‘first movers’ using low emission fuels 

  London – The International Chamber of Shipping (ICS), which represents 80% of the world’s merchant fleet, today announced proposals to accelerate the maritime sector’s transition to net zero by financially rewarding ships and energy producers that invest in low/net zero emission fuels. In a paper to shipping’s UN regulator, the International Maritime Organization (IMO),

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MSC purchases big Italian towage firm

  Mediterranean Shipping Company today announced the acquisition of Genoa-based Rimorchiatori Mediterranei, which operates more than 100 tugboats in 18 ports worldwide. Financial terms of the deal were not disclosed.  “We are very pleased to be able to become part of the exciting next phase for growth and improvement at Rimorchiatori Mediterranei and we look forward

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Rotterdam and Antwerp-Bruges feeling impact of loss of Russia business

    Western Europe’s two largest ports are experiencing declines in their container cargo, with loss of Russia business figuring prominently as a contributing factor. The Port of Rotterdam said today (Friday) it handled 10.9 million TEU during the first nine months of 2022, representing a decline of 4.4 percent from a year ago.  

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Canadian freight forwarders deplore rising costs sparked by congestion in inland supply chains

  The members of the Canadian International Freight Forwarders Association (CIFFA) are increasingly frustrated by the ongoing challenges and rising costs of doing business in Canada, CIFFA Executive Director Bruce Rodgers said in a statement released today. CIFFA’s members have increasingly been asking the Secretariat office to do more to raise awareness around the issues

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