Trendwatch: ILA, USMX reach tentative deal on 6-year contract; Cape of Good Hope detours look set to continue until 'August, at least'; Cosco share price falls after US lists carrier as a Chinese 'military asset'

ILA, USMX reach tentative deal on 6-year contract

The International Longshoremen’s Association and the United States Maritime Alliance reached a tentative agreement on a six-year contract covering workers at East and Gulf Coast ports, according to a joint statement released Wednesday night.

The tentative deal is subject to ratification by the two parties. The ILA and UMSX said they would not release any details about the agreement to allow union and USMX members time to review and approve the final document. The two parties will operate under their current contract until the new deal is ratified.

Cape of Good Hope detours look set to continue until 'August, at least'

The impending network changes made by the big container lines look set to ensure continuation of services around the Cape of Good Hope until the latter half of 2025.

CEO and partner at Vespucci Maritime Lars Jensen told The Loadstar resumption of services through the Suez Canal would involve further network changes, and he questioned whether carriers would be willing to make these before August, “at least”.

Cosco share price falls after US lists carrier as a Chinese 'military asset'

US regulators have today seemingly branded Cosco a “military” asset, including the Chinese container line on a list of designated entities operating in the US.

The carrier has been included among 133 Chinese entities on the list, which also includes China Cargo Airlines, in an annual update, after reports noting the use of Cosco vessels in practice runs for the Chinese military’s invasion of Taiwan.

Brisbane faces further industrial action

The Maritime Union of Australia (MUA) has announced further industrial action at the Port of Brisbane, escalating its push for improved wages and working conditions.

The latest work stoppages at Brisbane will begin on 8 January 2025 and involve members of the Construction, Forestry, Maritime, Mining and Energy Union (CFMMEU) covered under the Qube Ports Pty Ltd Port of Brisbane Enterprise Agreement 2020.

Lufthansa Cargo ramps up services, 'optimistic' for a very happy new year

Lufthansa Cargo is feeling “optimistic” about the year ahead, as a host of factors position airfreight for a soaring 2025. 

“Available forecasts for air cargo, but also for economic/trade development, indicate further growth,” the German carrier told The Loadstar. 

It noted that the global economy was adjusting to the “new realities” following the pandemic and recent geopolitical tensions, reflected in trade patterns.

November demand up 10.5% for Asia Pacific airlines

International air cargo demand for Asia Pacific airlines in November was up 10.5% year on year, supported by continued e-commerce business, maritime disruption and the front-loading of export orders ahead of anticipated US tariff hikes.

Preliminary November traffic figures released by the Association of Asia Pacific Airlines (AAPA) show that international air cargo demand, measured in freight tonne kilometres (FTK), increased by 10.5% year on year, slightly outpacing a 10% rise in offered cargo capacity.

American Airlines back in ‘Big 3’ carriers, brokerages predict strong 2025

American Airlines' stock is poised for a strong 2025 as the carrier emerges from a challenging year, according to brokerages Jefferies and TD Cowen, who upgraded the stock to a "buy" rating on Monday.

Shares of the carrier were up nearly 5% at $17.76 in premarket trading.

The carrier spent much of 2024 rebuilding its sales strategy and mending relationships with corporate clients after a sales and distribution approach backfired.