Josh Harris’ Post

Is your company at risk of being impacted by the potential US East and Gulf Ports Strike? 🚢 Check out below details from my colleague Josh Harris

🌐 Breaking News: Historic U.S. Port Strike Begins A historic strike has commenced at seaports on the U.S. East and Gulf coasts, and the impact on global supply chains could be monumental. This massive dockworker strike is expected to wreak havoc on the economy, with American consumers likely to notice shortages of popular products if the work stoppage persists. The strike, involving 45,000 port workers, is the first by the International Longshoremen’s Association (ILA) in nearly half a century. Ocean supply chains have already been strained this year by conflicts in the Red Sea, a lengthy drought affecting the Panama Canal, and the Baltimore bridge collapse. Now, with more than 40% of containerized goods entering the U.S. through these ports, the stakes could not be higher. Experts warn that even a minor disruption could have significant implications for industries such as pharmaceuticals, auto, and manufacturing. At John S. James Co., we understand the complexities and challenges that such disruptions can bring. Our expertise in customs brokerage and freight forwarding ensures that your goods keep moving, even in the face of industry upheavals. Whether it’s rerouting shipments or expediting customs clearance, we’ve got you covered. Learn more about our services at johnsjames.com. #SupplyChain #PortStrike #Logistics #FreightForwarding #CustomsBroker #GlobalTrade #JohnSJamesCo #ILA #USMX #Strike

East Coast Port Strike: What It Means for All of Us The East Coast port strike has frozen shipping and is creating a ripple effect that could soon lead to shortages—particularly of perishable goods. With 47,000 workers on strike and 36 ports shut down, the economic impact is escalating daily. What does this mean for businesses and consumers? How will this affect supply chains, prices, and availability of essential goods? Get the full story on the potential economic impacts and what lies ahead: Read more here - https://lnkd.in/gNVdhvzW #PortStrike #SupplyChainDisruption #EastCoastPorts #ShippingCrisis #Logistics #EconomicImpact #GlobalTrade #PortOperations #LaborStrike #SupplyChainManagement #ShippingIndustry #Freight #PerishableGoods #TradeDisruption #Transportation #InflationImpact #BusinessRisk #LogisticsChallenges #EconomicOutlook #IndustryNews

🚢⚓️ The Impact of US Port Strikes: What’s at Stake? ⚓️🚢 The potential strike at U.S. ports could have major consequences for global trade and the economy. With over 30% of U.S. imports passing through its ports, a disruption could lead to delays, shortages, and higher costs for goods worldwide. Industries from electronics to food could be hit hard. But, not all agree on the severity. Some argue that companies are more prepared after recent supply chain challenges. What do you think—are we ready for another disruption or could this shake things up? 🤔🌍 -------------- Below is brief information about the article on CBS. The U.S. is experiencing its first East Coast port strike since 1977. Here's what to know. Thousands of dockworkers at every major East and Gulf Coast port are now striking, closing trade gateways that handle about half of all goods shipped in containers in and out of the U.S. "A port strike could cost the U.S. economy billions of dollars a day, hurting American businesses, workers and consumers across the country," Business Roundtable CEO Joshua Bolten said in a statement this weekend. By Kate Gibson Edited By Aimee Picchi, Alain Sherter https://lnkd.in/eWB6q8E2 Updated on: October 2, 2024 / 11:32 AM EDT / CBS News #GlobalTrade #USPorts #SupplyChain #Economy #Logistics #ShippingNews #PortStrike #ImportExport #Commodities

📌 US port strike is over. Here’s what happens next t took just three days for the potential crisis at the United States’ East and Gulf Coast ports to be averted, with minimal impact on the country’s economy. The strike, led by the International Longshoremen’s Association (ILA), which represents 50,000 workers, came to a quick end as both sides reached an agreement on the primary issue—wage increases. The work stoppage, which began early Tuesday, threatened to disrupt supply chains, risk shortages of consumer goods, and halt essential exports. However, the swift resolution limited the damage. Shippers had anticipated the strike and moved goods through the ports before the Tuesday deadline, mitigating some of the disruption. Despite the brief halt, the ports were poised to return to normal quickly. By Thursday, the United States Maritime Alliance (USMX) increased its wage offer, and the strike was suspended, with the existing contract extended until January 15 while the final details are negotiated. Although the ports are open, it will take time for operations to fully recover. Industry experts estimate that it could take three to five days to make up for each day the ports were closed. For example, the Port of New York and New Jersey, the largest affected port, along with the Port of Virginia, delayed reopening to ensure containers are properly positioned before trucks are allowed entry. While such disruptions are rare, they aren’t unprecedented. Ports have faced closures due to extreme weather events, such as Hurricane Helene, which temporarily shut down several Southeast ports just before the strike. Despite initial concerns, there was minimal impact on emergency relief supplies for hurricane recovery efforts. The financial toll of the strike was significant. The Port Authority of New York and New Jersey reported daily losses of $250-$300 million, totaling approximately $1 billion over the four-day work stoppage. On Friday morning, 24 ships were waiting to unload, including container ships carrying 35,000 import containers. Although the immediate strike is over, there is still the possibility of future disruptions. The final contract, once completed, must be ratified by ILA members. Read the full article 📌 https://lnkd.in/gvxeFk9Q #shipspry #airfreight #expeditedshipping #logistics #AirCargo

Will the East and Gulf Coast Ports Strike? As East and Gulf Coast ports face a potential strike deadline on October 1, it’s worth noting that West Coast dockworkers recently secured a 32% wage increase over their new contract. In contrast, the International Longshoremen’s Association (ILA) on the East and Gulf Coasts is seeking a 77% increase over six years. With contract talks stalled, the possibility of a strike looms, which could have significant impacts on supply chains. Potential Supply Chain Impacts: Short Strike: A brief strike could lead to temporary disruptions in port operations, causing delays in shipments and creating backlogs. This could affect inventory levels, lead to increased shipping costs, and prompt businesses to reroute cargo to alternative ports, putting additional pressure on other transportation networks. Long Strike: A prolonged strike would have far-reaching consequences. It could severely disrupt supply chains, particularly for industries relying on just-in-time inventory. Importers and exporters may face significant delays, increased costs, and potential stockouts. Retailers, manufacturers, and distributors could experience major interruptions, potentially leading to product shortages and impacting holiday season sales. We'll continue to stay on top of this for you, as any disruption could ripple across the entire supply chain from Maine to Texas. #TransportationTuesday #Supplychain #logistics #Buffalo

Dockworkers at 36 ports across the eastern US are now on strike for the first time since 1977. This represents approximately 45% of all US imports and billions of dollars of goods coming into the US. The most significant issues would be faced by the food, apparel, and automobile industry. While a surge in inflation is unlikely even with a longer strike, even a modest re-acceleration could create uncertainty and force the Federal Reserve to be more cautious about lowering rates. This coupled with the unfortunate situation in the Middle East is bringing a lot of short term uncertainty in the stock market.

Will the East and Gulf Coast Ports Strike? As East and Gulf Coast ports face a potential strike deadline on October 1, it’s worth noting that West Coast dockworkers recently secured a 32% wage increase over their new contract. In contrast, the International Longshoremen’s Association (ILA) on the East and Gulf Coasts is seeking a 77% increase over six years. With contract talks stalled, the possibility of a strike looms, which could have significant impacts on supply chains. Potential Supply Chain Impacts: Short Strike: A brief strike could lead to temporary disruptions in port operations, causing delays in shipments and creating backlogs. This could affect inventory levels, lead to increased shipping costs, and prompt businesses to reroute cargo to alternative ports, putting additional pressure on other transportation networks. Long Strike: A prolonged strike would have far-reaching consequences. It could severely disrupt supply chains, particularly for industries relying on just-in-time inventory. Importers and exporters may face significant delays, increased costs, and potential stockouts. Retailers, manufacturers, and distributors could experience major interruptions, potentially leading to product shortages and impacting holiday season sales. We'll continue to stay on top of this for you, as any disruption could ripple across the entire supply chain from Maine to Texas. #TransportationTuesday #Supplychain #logistics #Buffalo

🚢 Navigating Uncertainty: The Impact of the Current Port Strike 🚢 As the ongoing port strike continues to affect supply chains globally, it’s crucial for businesses to adapt and find innovative solutions. This situation highlights the importance of resilience in logistics and the need for proactive contingency planning. Union dock workers at 36 East and Gulf Coast ports went on strike early Tuesday amid an impasse in negotiations over a new contract with a group representing port employers. The International Longshoremen's Association (ILA), which represents 45,000 dockworkers, began its first strike since 1977 after its six-year contract with the U.S. Negotiations between the ILA and USMX have been deadlocked thus far over the union's demands related to wage hikes and compensation, as well as protection from automation at ports. U.S. seaports from Maine to Texas will be impacted by the strike. Those ports collectively handle about half of  U.S imports and are also critical hubs for exports from American businesses.  Imports of cars and auto parts, agricultural products like bananas, machinery, fabricated steel, furniture, apparel and more will be affected.  East and Gulf Coast ports also handle significant percentages of exported cars and auto parts, pharmaceutical products, beef, pork, poultry, eggs, wood, plastics and other products or commodities. An analysis by J.P. Morgan estimated the daily cost of a port strike by East and Gulf Coast port workers would cost the U.S. economy between $3.8 billion and $4.5 billion per day as operations slow. #SupplyChain #Logistics #PortStrike #BusinessContinuity #Innovation

🌐 Breaking News: U.S. Port Strike Commences As expected, dockworkers on the U.S. East and Gulf coasts have initiated a significant strike, sending ripples through global supply chains. This strike, if prolonged, could lead to substantial disruptions, from delayed consumer goods to potential price hikes across various sectors. The ripple effects are expected to be felt far and wide, with American consumers likely to notice shortages of popular products. At John S. James Co., we understand the complexities and challenges that such disruptions can bring. Our expertise in customs brokerage and freight forwarding ensures that your goods keep moving, even in the face of industry upheavals. Whether it’s rerouting shipments or expediting customs clearance, we’ve got you covered. Learn more about our services at johnsjames.com. #SupplyChain #PortStrike #Logistics #FreightForwarding #CustomsBroker #GlobalTrade #JohnSJamesCo