Shipping and Logistics
June 28, 2015
Written by Sandy Williams
Seaborne Freight
The dry bulk market may have bottomed out in May and has been steadily creeping higher during June. The Baltic Dry Index closed at 823 on Friday, June 26. The BDI peaked on November 5, 2014 when the Index was at 1484 and dropped as low as 509 on Feb. 18, 2015. The BDI tracks dry-bulk rates based on vessel size and shipping route and is a used as a benchmark for overall trade volume.
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Port workers on Canada’s West Coast are on strike, and ports are already feeling the impact of the slowdown in the movement of goods. More than 7,400 workers represented by the International Longshore and Warehouse Union Canada (ILWU Canada) took to the picket lines starting on July 1 after failing to reach a new labor […]
With the US aluminum industry at a critical juncture, a new report is highlighting ways the Biden administration can use the Global Arrangement for Sustainable Steel and Aluminum (GASSA) to help the struggling domestic industry. Recall CRU’s aluminum analysts have previously shared with SMU the nightmare US aluminum smelters have been facing when it comes […]
In good news for the movement of goods on the West Coast, a tentative labor agreement has been reached between the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU). The new, six-year contract covers more than 22,000 ILWU dock workers represented at 29 West Coast ports. Details of the tentative agreement, which […]
Despite a record backlog, Northwest Pipe Co. is experiencing a challenging start to the year, with customer-driven delays and severe weather hampering production at its various facilities. The Vancouver, Wash.-based company noted the challenges as it released its fourth-quarter and full-year 2022 results. Q4 brought higher production tonnages but lower selling prices within Northwest’s engineered steel […]