According to Wine Australia’s latest Export Report, the 12-month period to June 2023 has seen Australian wine exports decline by 10 per cent in value to $1.87 billion and 1 per cent in volume to 621 million litres, with the drop largely driven by decreased...
Australia's new free trade agreement with India has seen Australian wine exporters gain preferential access to India's wine market, enabling them to diversify into the country's export market. This agreement has seen tariffs reduce from 150% to 70% on bottles arriving in market at US$15 per...
Britain has become the first European member of the Asia-Pacific CPTPP. This move secures access for British exporters to a region with a total GDP of USD 13.6 trillion and over 500 million people. The CPTPP is a free trade agreement signed by 11 Asia-Pacific countries (Australia, Brunei,...
The International Longshore and Warehouse Union (ILWU) has announced that just shy of 75% of its membership has moved to agree to a four-year contract which will see weeks of uncertainty and disruption along the Canadian west coast supply chain conclude. Whilst details of the agreement...
After 20 years of negotiation, the United Nations has adopted a marine biodiversity treaty for the high seas, the first international agreement of its kind. Whilst individual nations have jurisdiction over marine biodiversity out to the edge of their own waters, there have been few, if...
The latest update of Drewry’s composite World Container Index (WCI) has seen a weekly decrease by 2.7% to reach $1494.46 per 40-foot container whilst the composite index has dropped by 78.9% when compared to the same week last year. The index is now 86% below the...
Severe drought conditions affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer. The Panama Canal Authority (ACP) has stated it will progressively decrease the...
The International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) have reached a tentative agreement which sees longshore workers on the US West Coast secure a 32% salary increase over the life of a tentative six-year contract. This agreement signifies the conclusion of 13...
The container shipping industry and wider business landscape in Western Canada is bracing for the possibility of an extended strike across ports after the industrial action, which commenced on Saturday morning, continues, as an agreement remains elusive. The International Longshore and Warehouse Union (ILWU) representing over...
According to Sea-Intelligence Maritime Analysis, vessel schedule reliability for the US West Coast has hit a two-year high, with on-time performance up 2.4 percentage points to reach 52.6% in May. Conversely, reliability across the East Coast decreased by 3.3 percentage points to 42.9% over the...