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Tentative deal includes a 62% wage hike over six years; ILA, USMX to negotiate all other issues including automation.

USMX says talks cannot happen on pre-conditions even as Biden backs workers; all eyes on how long the strike will last.

"Now is not the time for carriers to refuse to negotiate a fair wage for workers while raking in record profits."

Vessel traffic into/out of Baltimore port suspended until further notice; six workers were missing and presumed dead

U.S. Marine Transportation System supports $5.4 trillion of economic activity each year & employs 31 million Americans

Houthis continue to target merchant ships, ocean freight rates continue to rally on uncertainty

Red Sea crisis leads to 2nd largest capacity drop, says Sea-Intelligence; Drewry World Container Index up 23%

Sharp drop in carrier profits in 2023 will add a deflationary component to world inflation, says Sea-Intelligence

PMA, ILWU agree to tentative 6-year contract at all 29 West Coast ports; details not announced

OSRA 2022 establishes additional requirements and prohibited conduct for ocean carriers.

"We are appalled by continued mischaracterisation of the industry by U.S. govt representatives"

"Nine shipping companies who ship from Asia to the United States have raised prices by as much as 1,000%."