"Fit for 55 refers to the EU’s target of reducing net greenhouse gas emissions by at least 55% by 2030. The proposed package aims to bring EU legislation in line with the 2030 goal." European Council | Council of the European Union AVIATION INITIATIVE The recent adoption of the RefuelEU [...]
STRENGTHENING GLOBAL TRADE The Indo-Pacific Economic Framework for Prosperity (IPEF) Supply Chain Agreement, recently introduced by the U.S. Department of Commerce, is an important development in the world of global trade. This agreement emphasizes countries working together to make supply chains stronger and more resilient, while helping to boost economies. [...]
Hurricane Idalia made landfall in Florida Wednesday morning bringing with it storm surges upwards of 15-feet in height, flooding, and heavy winds. After making landfall in the "Big Bend" region of Florida, Idalia progressed northeastward through the state, leaving a trail of wind damage and flooding in its wake as [...]
MONDAY, AUGUST 23, 2023 STATUS UPDATES Port of Los Angeles is operating commercial facilities (terminals, rail, lifts) under Heavy Weather Protocols. No major infrastructure damages reported at the ports or rail and all costal warning were cancelled. Post-Tropical Cyclone Hilary is still moving through the southwestern United States where flash [...]
PANAMA CANAL CLIMACTIC EMERGENCY Approximately 14,000 ships, accounting for 6% of global maritime trade, pass through the Panama Canal annually. This year, the numbers are expected to drop due to the unseasonably long drought impacting Panama. Watershed levels for the region are the lowest they have been since 1950. [...]
EUROPEAN UNION: SHIPPING INDUSTRY The shipping industry is crucial for the EU economy due to its energy efficiency, but it's also a major and increasing source of greenhouse gas emissions. In 2018, global maritime shipping emitted 1,076 million tonnes of CO2, accounting for about 2.9% of emissions. Projections suggest [...]
UPS AND TEAMSTERS REACH AGREEMENT UPS and the International Brotherhood of Teamsters (Teamsters) reached a tentative agreement for a five-year contract on Tuesday averting a strike. Endorsed by the UPS Teamsters National Negotiating Committee, the tentative agreement adds new full-time jobs, increases hourly pay rates for both full and part-time [...]
POTENTIAL UPS STRIKE The pending strike by United Parcel Service (UPS) Teamsters is causing widespread concern throughout global supply chains. As negotiations between UPS and the Teamsters stagnate, businesses worldwide are preparing for potential disruptions to shipping and logistics services. The potential August 1, 2023, strike may create bottlenecks and [...]
The ongoing strike by the International Longshore and Warehouse Union (ILWU) Canada, which has entered its second week, is causing changes in port calls. Some vessels are now being redirected from Vancouver to Seattle-Tacoma. There are concerns about potential cargo backlogs near the ports of Vancouver and Seattle-Tacoma. The Vancouver [...]
NET ZERO EMISSIONS TRACKING METHODOLOGY FOR AIR TRANSPORT The International Air Transport Association (IATA) announced plans to release an annual report called "Track Zero" to monitor the progress of the aviation industry in achieving its commitment to Net Zero carbon emissions by 2050. This report will utilize IATA's Net [...]
