M. Can Fidan’s Post

The major strike set to begin tonight involves dockworkers at ports along the East and Gulf Coasts of the United States. Here are some key considerations for consumers: ### Supplies and Groceries - **Stock Up**: Many consumers are already starting to stock up on essentials like food, water, and household items¹. This is because the strike could disrupt the supply chain, leading to shortages. - **Availability**: Expect potential shortages of imported goods, including fresh produce, electronics, and other items that rely on port deliveries². ### Fuel - **Fuel Supply**: The strike could also impact fuel supplies, as many fuel imports come through these ports³. This might lead to longer lines at gas stations and potential fuel shortages in some areas. - **Price Increases**: With supply disruptions, fuel prices are likely to rise³. ### Pricing - **General Price Hikes**: The disruption in the supply chain is expected to drive up prices on a wide range of goods¹². Retailers may pass on the increased costs of shipping and handling to consumers. - **Economic Impact**: The strike could cost the economy up to $4.5 billion each day, further exacerbating price pressures³. ### What You Can Do - **Plan Ahead**: If possible, purchase essential items before the strike begins to avoid potential shortages and price hikes. - **Stay Informed**: Keep an eye on news updates to understand how the strike is progressing and how it might affect your area. If you have any specific concerns or need more detailed advice, feel free to ask! Source: Conversation with Copilot, 9/30/2024 https://lnkd.in/eMSKgTDg? fbclid=IwY2xjawFoIPFleHRuA2FlbQIxMAABHbNDmlaI70Hek_Crmqu2cOoH5VFV02GluoEgKYRW17i-Re4E-Dl1sZb1WA_aem_nE1itydp7UV5f0PVfWWSQw

🚢 ILA Strike Ends: Ports Reopen, but Backlogs and Rate Increases Persist The ILA port worker strike across the US East Coast and Gulf ports ended last Thursday after the union accepted a 62% wage increase over six years. The contract has been extended until January 15th to resolve remaining issues, including port automation. With both sides returning to negotiations for the first time since June, there's reason for cautious optimism, but automation remains a key sticking point. ⚓️ Backlogs & Delays: Despite the strike’s resolution, East Coast ports face a backlog of 45-60 vessels, with estimates that it could take 2-3 weeks to clear. While some ports like New York/New Jersey are optimistic they can recover operations quickly, shippers with containers stuck at ports or on vessels will likely continue to experience delays. 💸 Freight Rates & Capacity: The strike has led to increased transatlantic rates, which surged 44% to $2,331/FEU last week, driven by congestion at both East Coast ports and European hubs like Hamburg. Ocean carriers had announced surcharges for transpacific containers, but these have been suspended post-strike as rates continue to ease. Transpacific rates are down 30% from their July highs, though East Coast congestion could slow further rate declines. ✈️ Air Cargo Impact: The strike prompted some ocean-to-air cargo shifts, particularly on transatlantic and transpacific lanes. Air cargo rates from China to North America jumped from $5.91/kg to $7.07/kg last week—the highest since last year’s peak season. Europe to North America air cargo rates have also increased 4% since early September, reflecting some shift from ocean freight. E-commerce demand continues to keep rates elevated on many lanes, especially out of China. 🌐 What’s Next?: While transpacific rates are expected to ease further with peak season behind us, ongoing Red Sea diversions are keeping rates from dropping to pre-pandemic levels. The next critical deadline is January 15th, with the ILA and USMX still facing key disagreements on automation. #SupplyChain #Logistics #PortStrike #OceanFreight #AirCargo #ShippingIndustry #FreightRates #GlobalTrade #PortCongestion

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.

🚢 Potential Strike at US East and Gulf Ports: What You Need to Know 🚢 A looming dockworkers’ strike at 36 ports from Maine to Texas could significantly disrupt US shipping traffic, affecting 60% of the nation’s trade. If no contract deal is reached by next week, 45,000 members of the International Longshoremen’s Association (ILA) may walk out, marking their first strike in nearly 50 years. This could cost the US economy up to $7.5 billion per week. Impact on Major Ports: The strike could close five of the ten busiest ports in North America, including New York and Charleston. Economic Consequences: Over 50% of US containerized cargo imports and 15% of the global container fleet could be affected. Wage Demands: The ILA is pushing for a 77% wage hike over six years, significantly higher than the 32% raise West Coast dockworkers received last year. Holiday Season Pressure: With $34 billion worth of goods en route to affected ports, shippers are racing to deliver before a potential work stoppage disrupts holiday shopping inventories. Cargo Diversions: Carriers are already diverting shipments to West Coast ports, anticipating delays of 4 to 6 weeks. While some non-port activities like inland rail ramps may continue, port closures will significantly reduce rail services. The situation remains fluid, with ongoing discussions on managing operations if a strike occurs. Stay tuned for updates as this situation develops. 📦🚛 Source: JOC, Freight Waves, Shipping Watch, USMX, Sherwood News #SupplyChain #Logistics #Shipping #PortStrike #TradeDisruption #Economy #HolidaySeason #Freight

Great news! The recent port strike on the US East and Gulf Coast has come to an end after a new wage agreement was reached. However, the ripple effects are just beginning. The backlog means supply chains will face delays, and freight rates have already seen a significant increase. If you're feeling the pressure from these disruptions, having access to real-time market intelligence is crucial. Learn more: #supplychainstrikes #supplychainmanagement

With the possibility of a strike at East and Gulf Coast ports growing more imminent, we are closely watching how this situation may unfold. The International Longshoremen’s Association (ILA) has expressed unanimous support for a strike if no agreement is reached by the Sept. 30 deadline. With ports along the East and Gulf Coasts responsible for 43% of all U.S. imports, the impact of a work stoppage would be massive, particularly as we approach the holiday season—a crucial time for retailers, manufacturers and agriculture.   We are deeply concerned about the disruption this would cause to supply chains nationwide. A strike could result in severe delays, economic losses and increased costs across every industry that relies on these ports. Our members—third-party logistics providers—are already stepping up to find alternative solutions, from increasing trucking capacity to rerouting shipments, but the challenges are real. We urge all parties involved to return to the bargaining table and work toward a resolution that keeps goods flowing. At TIA, we are committed to supporting our members and ensuring that the supply chain remains resilient in the face of these potential disruptions. https://lnkd.in/epv-bW-E #SupplyChain #Logistics #TIA #PortStrike 

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

Advisory(ii): Anticipated East Coast Strike: With less than five days before the ILA’s contract expires, a large-scale strike seems imminent. The ILA and USMX remain divided on key issues like wage increases and port automation, and they haven’t met since June. Multiple shipper associations have called on the White House to intervene, but the pro-union administration has stated it will not use the Taft-Hartley Act to prevent a strike. However, with the economic impact of a port shutdown potentially costing billions per day and elections approaching, the government will be under pressure to prevent a prolonged disruption. Ports, carriers, and regulators are preparing for a strike, which could start Monday night. Many East Coast and Gulf ports would shut down entirely, while hybrid ports may keep some operations running. Major container hubs have extended terminal hours, and ports and rail operators are setting deadlines for final pick-ups, with a focus on reefer shipments. Some ocean carriers have stopped accepting new export bookings, and surcharges ranging from $400 to $3,000 per container are being implemented. Hapag-Lloyd announced that containers already en route to affected ports will not be rerouted. The FMC has warned against unfair detention and demurrage charges during the strike, and some operators have agreed to pause these fees. While traffic may shift to West Coast ports, a prolonged strike could lead to congestion and global delays, impacting vessel and container availability in Europe and Asia, with potential rate hikes across multiple lanes. 1. #FreightForwarding   2. #LogisticsManagement   3. #SupplyChainSolutions   4. #InternationalShipping   5. #CargoTransport   6. #ShippingIndustry   7. #CustomsBrokerage   8. #FreightLogistics   9. #GlobalTrade   10. #TransportationServices  

US port strike ends 📝 Port Reopenings: U.S. East Coast and Gulf Coast ports reopened after a collective bargaining agreement ended the largest work stoppage in 50 years. 🚢 Supply chain disruption: At least 54 ships queued to unload; full operations may take 2-3 weeks to stabilize. 📈 Market Impact: Shipping stocks in Asia and Europe fell sharply as fears of higher freight rates eased. 🛒 Affected Goods: Shortages affected everything from auto parts to coffee; major importers include Walmart, IKEA and Goodyear. 📌 Next Steps: The tentative deal addressed wages but left automation issues unresolved, which could lead to future disruptions. Read more at: https://lnkd.in/eUSqjtmZ

🚨🛳️ 𝗘𝗮𝘀𝘁 & 𝗚𝘂𝗹𝗳 𝗖𝗼𝗮𝘀𝘁 𝗣𝗼𝗿𝘁 𝗦𝘁𝗿𝗶𝗸𝗲 𝗨𝗽𝗱𝗮𝘁𝗲 Here’s what you need to know as the port strike is underway: 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻𝘀: Shortages are expected within days if freight isn’t moved as the port strike continues. 𝗥𝗲𝗿𝗼𝘂𝘁𝗶𝗻𝗴 𝗔𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀: Rerouting through Mexico and the West Coast are possible alternatives. These options may take longer due to added transit times, but it can be a viable solution for keeping your cargo moving. 𝗦𝘂𝗿𝗰𝗵𝗮𝗿𝗴𝗲𝘀: Over $1,000 per container could be added due to delays. 𝗔𝗶𝗿 𝗙𝗿𝗲𝗶𝗴𝗵𝘁: For more time-sensitive cargo, air freight can be a faster solution. Though more expensive, we can help you weigh the best options for your business. 𝗟𝗮𝗯𝗼𝗿 𝗗𝗶𝘀𝗽𝘂𝘁𝗲𝘀: The wage negotiations and automation concerns are ongoing. The ILA is seeking a 70% wage increase, which has stalled negotiations, while automation remains a major concern for the union. We are staying updated to provide the latest information and guidance for your logistics planning. Read the full article below for more details: https://lnkd.in/eEsaXEdv At Interport Logistics, we’re monitoring the situation closely. We’re working to reroute shipments, prioritize urgent freight, and ensure our clients are informed every step of the way. #Logistics #PortStrike #FreightForwarding #SupplyChainSolutions #InterportLogistics