Generic Hero BannerGeneric Hero Banner
Latest market news

Talks to restart as port of Vancouver lockout drags

  • : Biofuels, Biomass, Chemicals, Coal, Crude oil, Fertilizers, Metals
  • 24/11/08

A labour disruption at the port of Vancouver is now into its fifth day, but the employers association and the locked-out union are to meet this weekend to try to strike a deal and get commodities moving again.

Workers belonging to the International Longshore and Warehouse Union (ILWU) Local 514 on Canada's west coast have been locked out by the BC Maritime Employers Association (BCMEA) since 4 November. This came hours after the union implemented an overtime ban for its 730 ship and dock foreman members.

The two sides will meet on 9 November evening with the assistance of the Federal Mediation and Conciliation Service (FMCS) in an effort to end a 19-month long dispute as they negotiate a new collective agreement to replace the one that expired in March 2023. The FMCS was already recruited for meetings in October, but that did not culminate in a deal.

Natural resource-rich Canada is dependent on smooth operations at the port of Vancouver to reach international markets. The port is a major conduit for many dry and liquid bulk cargoes, including lumber, wood pellets and pulp, grains and agriculture products, caustic soda and sodium chlorate, sugar, coal, potash, sulphur, copper concentrates, zinc and lead concentrate, diesel and renewable diesel liquids and petroleum products. These account for about two-thirds of the movements through the port.

Grain operations and the Westshore coal terminal are unaffected while most petroleum products also continue to move, the Port of Vancouver said on 7 November.

As the parties head back to the bargaining table, the ILWU Local 514 meanwhile filed a complaint against the BCMEA on 7 November, alleging bargaining in bad faith, making threats, intimidation and coercion.

"The BCMEA is trying to undermine the union by attempting to turn members against its democratically-elected leadership and bargaining committee, said ILWU Local 514 president Frank Morena on 7 November. "They know their bully tactics won't work with our members but their true goal is to bully the federal government into intervention."

But that is just "another meritless claim," according to the BCMEA, who wants to restore supply chain operations as quickly as possible.

The union said BC ports would still be operating if the BCMEA did not overreact with a lockout.

"They are responsible for goods not being shipped to and from BC ports — not the union," Morena says.

The ILWU Local 514 was found to have bargained in bad faith itself already, according to a decision by the Canada Industrial Relations Board (CIRB) in October.

Billions of dollars of trade are at risk with many goods and commodities at a standstill at Vancouver, which is Canada's busiest port. A 13-day strike by ILWU longshore workers in July 2023 disrupted C$10bn ($7.3bn) worth of goods and commodities, especially those reliant on container ships, before an agreement was met.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

25/11/15

US lifts tariffs on most fertilizer imports: Update

US lifts tariffs on most fertilizer imports: Update

Adds detail on the lack of full exemption status for ammonia and recent Nola urea futures trade Houston, 14 November (Argus) — US president Donald Trump said today key nitrogen and phosphate fertilizers, among other agricultural products , are exempt from US import tariffs that were implemented in April, but ammonia's status under the tariff modification remains unclear. After just seven months in place, tariffs that have curbed imports to US shores and elevated the price of fertilizers have been lifted, according to a modification to Executive Order 14257 issued by the White House today. Fertilizers exempted from the tariffs include urea, ammonium nitrate, UAN, ammonium sulfate, TSP, DAP and MAP. Ammonia could qualify for tariff exemptions, but eligibility will be determined on a case-by-case basis by the secretary of commerce and the US Trade Representative, depending on the terms of existing or ongoing trade negotiations with each country. Potassium fertilizers like MOP were already exempt from import tariffs. The modification to the tariffs went into effect for goods imported starting 13 November. January Nola urea futures traded down roughly $30/st late Friday afternoon to $360/st fob following the announcement, but otherwise activity was largely subdued given the modifications' proximity to the weekend. Fertilizer values will likely begin to price-in the change in trade policy starting Monday. Most fertilizer exporting countries, except for Russia , faced tariff rates of 10-15pc, with some suppliers even facing up to 30pc tariffs, resulting in major shifts in fertilizer trade. Exporters have avoided the US, favoring alternative destinations for their supply. But trade flows could normalize now that fertilizers are now tariff-free. The tariffs have contributed to eroding fertilizer affordability relative to crop prices in the US this year, driving fertilizer prices to multi-year highs and significantly curbing demand for nutrients across the country. Lower cost imports could help unwind farmer reluctance to enter the market leading up to the spring season in 2026. The announcement should provide importers and distributors with some certainty headed into next spring after months of being kept on edge by shifting US trade policy. By Calder Jett and Sneha Kumar Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US lifts tariffs on fertilizer imports


25/11/14
25/11/14

US lifts tariffs on fertilizer imports

Houston, 14 November (Argus) — US president Donald Trump said today key nitrogen and phosphate fertilizers, among other agricultural products, are exempt from US import tariffs that were implemented in April. After just seven months in place, tariffs that have curbed imports to US shores and elevated the price of key fertilizers have been lifted, according to a modification to Executive Order 14257 issued by the White House today. Fertilizers exempted from the tariffs include ammonia, urea, ammonium nitrate, UAN, ammonium sulfate, DAP and MAP. Potassium fertilizers like MOP were already exempt from import tariffs. The modification to the tariffs will go into effect for goods imported starting 13 November. Most fertilizer exporting countries, except for Russia , faced tariff rates of 10-15pc, with some suppliers even facing up to 30pc tariffs, resulting in major shifts in fertilizer trade. Exporters have avoided the US, favoring alternative destinations for their supply. But trade flows could normalize now that fertilizers are now tariff-free. The tariffs have contributed to eroding fertilizer affordability relative to crop prices in the US this year, driving fertilizer prices to multi-year highs and significantly curbing demand for nutrients across the country. Lower cost imports could help unwind farmer reluctance to enter the market leading up to the spring season in 2026. By Calder Jett and Sneha Kumar Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Sigma paused mine in 3Q, will sell Li tailings


25/11/14
25/11/14

Sigma paused mine in 3Q, will sell Li tailings

Sao Paulo, 14 November (Argus) — Sigma Lithium confirmed it froze production at its flagship project in Brazil between late September and for the entirety of October in order to upgrade mining equipment, which curtailed output in the period. Sigma on 6 October said that it would be enhancing its mining efficiency by switching feedstock providers and upgrading equipment at its Grota do Cirilo mine, in Brazil. The plant began to phase down in September and was shutdown in October, which led to a "significant production decrease," the company's chief executive Ana Cabral said during an earnings call. Third quarter output fell to 44,000 metric tonnes (t) of spodumene, a 27pc decrease over the year and a 36pc sequential drop from the previous quarter. Sigma also failed to export any material in October because of the mining halt. The mine was restarted earlier this week and will ramp up back to normal production levels in the next 2-3 weeks, Cabral said. Sigma declined to share its fourth quarter production guidance, saying it would do so after production resumed. Given the upgrades, however, the company expects to produce 73,000t in the first quarter of 2026, which would be a 6.8pc increased compared to the same period this year. The miner also revised the delivery timeline for its first expansion, now scheduled for completion by the end of 2026, which will lift Grota do Cirilo's total capacity to 520,000t/yr from 245,000t/yr today. It sold 48,600t of spodumene for a total net revenue of $28.5mn in the third quarter. Li tailings will be sold to China Sigma will also begin to sell chemically unaffected dry lithium tailings to Chinese buyers in order to maximize profits and monetize "all lithium we have", Cabral said. The company plans on offloading 950,000t of dry, solid mining byproducts with 1-1.3pc lithium concentration to buyers in China. The company quoted the tailings — which it calls "lithium middlings" — at $120/t at current market prices, which would bring $33mn of additional revenue in the fourth quarter, according to Cabral. There are 100,000t of "middlings" stocked at the port of Vitoria and another 850,000t at the mine, with shipping to China priced at $40/t and $85/t, respectively. Sigma commits first Li batches The company said it secured two offtake agreements with different clients and is negotiating a third to be sealed by year's end. Sigma has, for the first time, committed 100,000t of spodumene to two different customers through long-term offtake agreements. The first agreement covers 80,000t and is structured as a three-month rolling contract at market prices. Under this arrangement, the customer prepays for upcoming production, with payments extending until 30 March 2026. Sigma plans to use the funds as working capital. In the second offtake, the customer has paid $25mn up front in exchange for 20,000t of production over the next three years. Sigma intends to use this funding to support its recent mining upgrade. The company is also negotiating a third offtake with a European-based trading company to partly fund its expansion plans. It expects to close a three-year contract for 40,000t, valued at $51mn upfront, by year-end —bringing total committed production to 140,000t. Additionally, Sigma is in talks for two more offtakes totaling 260,000t, scheduled to close in 2026: one for 80,000t over three years at $100mn, and another for 40,000 t over three years at $51mn. The proceeds from these agreements will be used to repay shareholder debt and fund growth initiatives, respectively. Overall, the miner is set to commit 400,000t of spodumene by the end of 2029. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: 10 countries pledge to align transport with 1.5ºC


25/11/14
25/11/14

Cop: 10 countries pledge to align transport with 1.5ºC

Belem, 14 November (Argus) — A group of 10 countries led by Chile called for a global effort to cut energy demand from the transport sector by 25pc by 2035, aligning it with the Paris Agreement goal of limiting global warming to 1.5°C above pre-industrial levels. The coalition was formed at the UN Cop 30 climate summit, which is underway in Belem, northern Brazil. Brazil, Colombia, Costa Rica, the Dominican Republic, Honduras, Norway, Portugal, Slovenia and Spain are the other signatory countries so far. "We are committed to making transport a key pillar of climate action, agreeing a shared framework for resilient and low emissions transport systems", Chile's transport minister Carlos Abogabir told journalists at Cop 30. Cutting energy demand from transport — the second-largest emitting sector — allows for "a clear measurable direction towards a net zero scenario in the transport sector in 2050", he added. Chile is a natural leader for the coalition as it is a global leader in efforts to electrify its public transport fleet. The country's capital Santiago is the city with most electric buses outside of China, Abogabir said. It had around 3,000 electric buses in 2024, according to a report by Agora Verkehrswende, a non-governmental organisation focused on climate neutrality in transport. But it will have 4,400 by March, Abogabir added. The coalition will now work to create a roadmap to reach the pledge's goal and measure progress for future Cops, according to Slocat, a global partnership that promotes sustainable, low-carbon transport. Sustainable fuels, renewable sources Although the pledge will heavily rely on electrification, it also calls on countries to shift one-third of energy powering transport to sustainable biofuels and renewable sources. Brazil is the second-biggest biofuel producer globally, trailing only behind the US. But it will consider any route that both decarbonizes its fleet and drives national industry, Brazilian minister of cities Jader Barbalho Filho told Argus , mentioning specifically liquid nitrogen and biomethane. Including existing and expected projects, Brazil could have 2.4mn m³/d of biomethane capacity by 2027, data from hydrocarbons regulator ANP show. The shift to sustainable biofuels and renewables sources plays well into Brazil's Belem 4x pledge , which calls for a global effort to quadruple global output and use of sustainable fuels by 2035, Filho added. "The Chilean government looked for us [to present the transport pledge] exactly because we already have [Belem 4x]", he said. The Belem 4x pledge now has 23 country signatories, Cop 30 chief executive Ana Toni said today. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Croatia's Omisalj crude receipts drop in October


25/11/14
25/11/14

Croatia's Omisalj crude receipts drop in October

Barcelona, 14 November (Argus) — Crude receipts at the Croatian terminal of Omisalj fell in October, as a refinery served by the port caught fire and a disagreement continued between Omisalj's terminal operator and Hungary. Overall Mediterranean crude imports dropped sharply in the month. Omisalj receipts declined to 75,000 b/d last month, from 145,000 b/d in September, according to Argus tracking. Deliveries averaged 125,000 b/d in January-October, up from 110,000 b/d across 2024. The terminal serves Croatian firm Ina's 90,000 b/d Rijeka refinery and is the start of the 400,000 b/d Adria pipeline that can supply three landlocked refineries — Mol's 161,000 b/d Szazhalombatta in Hungary and 115,000 b/d Bratislava in Slovakia, and NIS' 96,000 b/d Pancevo in Serbia. Receipts fell as the US sanctioned NIS, and Szazhalombatta had a fire . There were sharp words over transit conditions between Mol and Janaf, in a long-running dispute. October deliveries to Omisalj comprised 45,000 b/d of Azeri BTC Blend, plus 30,000 b/d of Caspian CPC Blend. Argus assessed average crude quality at Omisalj in January-October at 37°API and 0.7pc sulphur, lighter than the 2024 average of 35.8°API and 0.7pc sulphur. Seaborne crude receipts at Mediterranean terminals — including Croatia, Spain, Greece, France's Fos-Lavera and Italy excluding Trieste — fell to 3.39mn b/d from 3.63mn b/d on the month. This was the lowest since June, when there were major works at two Greek refineries and Spain sharply cut crude purchases as a consequence of the end-April Iberian power outage. October arrivals were down on a combination of a string of planned and unplanned works and an ownership dispute in Italy, unplanned maintenance in France, Szazhalombatta's fire and the US' NIS sanctions. For refineries functioning correctly, middle distillate and gasoline cracks are buoyant . Greek's Helleniq Energy expects them to stay strong to year-end . For the second month in a row the biggest crude supplier to the Mediterranean region was the US, with 495,000 b/d down from 565,000 b/d in September. Libya supplied 440,000 b/d and Iraq 445,000 b/d. This was the most Iraqi crude in the Mediterranean since November 2023, supported by strong Greek demand for Basrah Medium, plus returning Kirkuk supply . By Adam Porter Mediterranean Europe crude imports mn bl Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more