Canada rail strike stopped by forced arbitration
A Canadian rail strike that started early Thursday morning will be short-lived as the federal government stepped in to force the union and two railroads into binding arbitration.
The federal government is now directing the Canada Industrial Relations Board (CIRB) to "assist the parties in settling the outstanding terms of their collective agreements by imposing final binding arbitration," labour minister Steven MacKinnon said Thursday.
The minister has the authority under section 107 of the Canada Labour Code to mandate the sides return to the bargaining table, a tool the federal government was reluctant to use until now.
Operations for Canadian Pacific Kansas City (CPKC) and Canadian National (CN) stopped at 12:01am ET Thursday when they could not reach agreements over contract terms with the Teamsters Canada Rail Conference (TCRC).
Operations will resume at the railroads during arbitration.
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SBO futures up on railroad stoppage, crush figures
SBO futures up on railroad stoppage, crush figures
Houston, 22 August (Argus) — US soybean oil (SBO) futures rose by 2.5pc during the past week, amid a rail strike in Canada and a new crush report showing higher US soybean crush for July but lower soybean oil stocks. The September CBOT soybean oil contract closed at 41¢/lb on 21 August, up from 40.01¢/lb a week earlier. The National Oilseed Processors Association (NOPA's) July crush report on 15 August showed US soybean crush at 182.9mn bushels, 5.5pc higher from last year and up by 4.2pc from the prior month. But July soybean oil stocks were reported at 1.5bn lbs, down by 7.6pc from the prior year and 1.8pc lower from the prior month, indicating more consumption. Market talk also revolved around a strike involving Canada's two largest railroads Canadian Pacific Kansas City and Canadian National. US biofuel producers and the US food industry import soybean oil and canola oil from Canada, mostly the latter since Canada is the largest canola producer in the world. Market participants mentioned some veg oil sellers are suggesting canola oil food customers switch to soybean oil for the short term, even though it could be too early to gauge potential consequences from the strike. By Jamuna Gautam Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Crew removed from tanker adrift in Red Sea
Crew removed from tanker adrift in Red Sea
London, 22 August (Argus) — The stricken Suezmax Sounion is adrift and unmanned after the crew was removed following further attacks in the Red Sea, including by an unmanned surface vehicle (USV). All crew members were rescued and are being transported to Djibouti, the nearest safe port of call, the EU naval mission EUNAVFOR Aspides said today. Vessel operator Delta Tankers said the master and crew had taken the decision to abandon ship. Sounion is carrying 150,000t of crude and represents a navigational and environmental hazard, EUNAVFOR said. The 2006-built tanker loaded Basrah Heavy crude on 11 August, and first came under attack yesterday, 21 August. Three projectiles were fired at the ship, causing it to lose engine power. It was targeted with missiles on five occasions during transit through the western Gulf of Aden and southern Red Sea, maritime security firm Ambrey said. EUNAVFOR said it destroyed a USV that posed "an imminent threat" to Sounion on arrival at the scene. Earlier reports of Sounion being on fire may have been based on flames from the destruction of a USV, Ambrey said. The Greek-owned and operated Kamsarmax Tutor sank in June with a cargo of coal from Ust-Luga on board after being attacked by a USV. The 2009-built Supramax bulk carrier SW North Wind I also came under attack yesterday. UKMTO said it received a report of an incident 75 nautical miles south of Aden, Yemen. The vessel initially reported two explosions in the water in close to proximity and then a third explosion near the vessel. No damage was reported, and the SW North Wind I was proceeding to its next port of call, UKMTO said. SW North Wind I last reported its location nine days ago after heading past southern India with a cargo of steel loaded in South Korea on 24 July, data from Kpler show. Shipowner Eagle Bulk sold the Japanese-built Supramax, then called the Stellar Eagle , earlier this year prior to a merger with fellow bulker owner Star Bulk . By Matthew Mitchell Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore's SRC partially shuts refinery for turnaround
Singapore's SRC partially shuts refinery for turnaround
Singapore, 22 August (Argus) — Singapore Refining Company (SRC) has partially shut its refinery for a scheduled maintenance in August, market participants said. SRC, a joint venture between Singapore Petroleum Company (SPC) and Chevron, has shut a crude distillation unit for a scheduled turnaround at its 290,000 b/d Jurong Island refinery. The shutdown will last about one to two months market participants said. SRC produces oil products ranging from naphtha, reformate, alkylate, gasoline, jet fuel, diesel and low-sulphur fuel oil. The cargoes are typically distributed domestically and exported to markets in Asia-Pacific, according to SRC. Some of SRC's naphtha is also sent via pipeline to Petrochemical Singapore (PCS), according to a 2023 PCS document. By Aldric Chew Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Work stoppage begins at Canadian railroads
Work stoppage begins at Canadian railroads
Washington, 22 August (Argus) — Operations at Canada's two largest railroads ended Thursday morning at 12:01am ET as a work stoppage began following the failure of labor contract talks. Canadian Pacific Kansas City (CPKC) and Canadian National (CN) locked out union members, while the Teamsters Canada Rail Conference (TCRC) launched a strike at CPKC. The union has not yet issued a strike notice to CN , but its workers are barred from the property. The work stoppage freezes ongoing train shipments even if they have not reached their destinations. The railroads last week stopped loading railcars with shipments of certain toxic and poisonous materials to keep products from being abandoned in unsafe locations, and this week stopped loading all commodities and other freight within Canada. Operations along CN and CPKC's US lines continue but trains cannot cross into Canada. The union confirmed just after midnight that work stoppages at CN and CPKC had begun. Most Teamsters members stopped work at 12:01am ET, though rail traffic controllers at CPKC will keep working until 2:01am ET. CPKC and CN announced they had formally locked out employees represented by the Teamsters union. CN said the union did not respond to an offer it had made in a last attempt to avoid the strike. Wide range of commodities in crosshairs The work stoppage will affect freight deliveries for a variety of goods across North America, including shipments of propane to rural communities, grain and coal deliveries to Canadian export terminals, and chemical inputs to manufacturing facilities. CN said Wednesday that grain prices were already being affected and that sawmills in British Colombia were cutting shifts. Coal exports from Canadian mines would be held because those operations are only served by CN and CPKC. But western US coal exports are not expected to see much of a disruption since US carrier BNSF has rail lines going directly to Westshore Terminals near Vancouver. BNSF will not be able to interchange railcars with CN and CPKC in Canada, however. Crude markets are also not expected to see significant disruption from a strike in the short term because of pending maintenance at upstream oil sands facilities and spare pipeline capacity. Prices for Canadian propane and butane — which rely heavily on rail to move product from an oversupplied market to the US — fell Wednesday ahead of the strike. Wide gap between workers, railroads The railroads and the Teamsters remain far apart on contract terms. The union — which represents roughly 9,300 train operators and support staff at CN and CPKC and 85 rail traffic controllers at CPKC — said forced relocation and scheduling and fatigue management that will lead to safety risks are the key points of dispute. CN said its offers, which have been turned down repeatedly, would have improved safety, increased wages, and provided employees with better schedules. CPKC chief executive Keith Creel on 19 August claimed union leadership had made "wildly inaccurate characterizations" about the railroad's proposals in order to "create a false public narrative" about negotiations. He said the railroad did not unilaterally change or cancel the terms of the most recent collective agreement or make proposals that compromise safety. Creel said most recently CPKC has focused on a status quo-style contract renewal with a duration of three years. That proposal would have no work rule changes and the railroad only wanted to negotiate "reasonable adjustments" to the timing of held-away pay to address regulatory changes made by Transport Canada last year. CN called on Canadian minister of labour Steven MacKinnon to intervene this week. He has already been meeting with each railroad and the Teamsters. CPKC this week reiterated earlier calls for binding arbitration, but MacKinnon rejected that request on 15 August. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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