shipspry’s Post

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 Economic Ripple Effects of a Possible Port Strike 👈 As we approach a potential strike at Atlantic and Gulf Coast ports, experts are raising alarms about severe disruptions to U.S. supply chains. With the International Longshoremen’s Association’s contract set to expire on September 30, the impact on the upcoming holiday shopping season could be significant. Key Points: ⚓ 45,000 dockworkers may strike starting October 1. ⚓ Potential for backlogs and shortages affecting key sectors. ⚓ Risk of inflation and increased costs for consumers. Let’s stay vigilant and prepared for the challenges ahead! 🚢 Source https://lnkd.in/eTMm3FnK #SupplyChain #PortStrike #Economy #Logistics #BusinessContinuity #HolidaySeason 🌍

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

🚢 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

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  

🌐 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

⚠ Warning: Deadline to Avoid The ILA Port Strike is Almost Here! ⚠ East Coast and Gulf Coast ports have closely monitored the negotiations between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) for the past few weeks. Unfortunately, no agreements have been made yet, and the deadline is September 30th, which is only a few days away. A work stoppage will begin across the East and Gulf Coast ports on October 1st if the deadline is not met. Ports have extended their hours for this week, encouraging shippers to pick up their import shipments before the end of the day on September 30th. The Port Authority of New York and New Jersey's Port Director, Bethann Rooney, also mentioned that refrigerated and hazardous materials containers are a top priority, as a strike will ruin these commodities. President Biden has stated he will not intervene in the ILA-USMX negotiations, but this could change if a strike occurs. The Canadian rail strike last month proved that a strike could be put down if the government recognizes the need for shipping. A work stoppage will hit the economy harshly, potentially raising prices on essential goods and creating shortages. With the holiday season and presidential elections around the corner, this strike could have devastating effects. However, all shippers and carriers can do right now is hope the ILA and USMX come to an agreement before September 30th. We will have more updates as this story develops. #LaborNegotiation #portstrike #ILAstrikedeadline #supplychain #TradeImpact

Strike Shutters Half of U.S. Ports: What It Means for Y The International Longshoremen’s Association has gone on strike, halting operations at over half of the nation’s ports. This disruption is impacting containerized imports and exports across the U.S., putting significant strain on the supply chain and the economy. Businesses and consumers alike may face delays, price increases, and shortages in the coming weeks as the strike continues. Stay informed and plan accordingly as we navigate these challenges. https://lnkd.in/e9dyXWNT

🚨 Are you keeping up with the news? 🚨 Tomorrow, October 1st, the ports on the U.S. East Coast may close indefinitely due to a strike by dockworkers (International Longshoremen’s Association - ILA). What does this mean, and what are their demands? 🚢🚢 While the world and supply chain operators seek to automate and increase the use of technology and automation, the longshoremen are calling for the opposite: a reduction in automation and higher wages. The current contract expires on September 30th, and a strike of this magnitude hasn’t occurred since 1977. The East Coast ports account for 51% of U.S. trade, with some sectors relying on them for up to 90% of their volume. This strike could affect 5 of the 10 busiest ports in the country, with many already indicating disruptions in the supply of fruits and other essential items. The Port of Miami alone handles an average of 9 million tons per year! 🏗️🏗️💰 If the strike lasts more than a week, the disruption could have global repercussions. Conversely, we may see a worsening of the container crisis globally, as some shipping companies might resort to longer alternative routes to bypass the strike. Studies suggest that for every day of inactivity, there could be a backlog equivalent to three days. Thus, if the strike continues for a week, the impacts could last for about a month. Also, the air freight cost will increase as demand will grow for urgent cargo. ✈️ In a globalized world, even a "small" movement can trigger widespread chaos. The U.S. government has indicated that it will not use emergency powers to prevent or suspend the strike, which is unusual during an election year. It’s essential to stay vigilant regarding these developments.🌎💣 #logistics #globalization #strike #world #SCMdisruption

Economic Alarm: East Coast Port Strike Threatens Widespread Shortages In the largest global terminal industrial action this century, approximately 45,000 dockworkers from Maine to Texas went on strike Monday night. The International Longshoremen's Association (ILA) union and the UNITED STATES MARITIME ALLIANCE LIMITED (USMX) employer group failed to agree on a new contract. “Now is not the time for ocean carriers to refuse to negotiate a fair wage for these essential workers while raking in record profits. My administration will be monitoring for any price gouging activity that benefits foreign ocean carriers, including those on the USMX board,” President Biden said. “No one should exploit a disruption for profit, especially at a time when whole regions of the country are recovering from Hurricane Helene. @The Federal Maritime Commission has stated that it will use the authority the President called for and signed into law to ensure any fees assessed are legitimate and lawful,” transportation secretary, Pete Buttigieg said. ILA’s president Harold Daggett said yesterday: “We are prepared to fight as long as necessary, to stay out on strike for whatever period of time it takes, to get the wages and protections against automation our ILA members deserve.” Key Demands: 1. Wage increases exceeding 70% 2. Commitments from port operators to refrain from automating facilities Impact: The strike affects ports handling 57% of US imports (2022 data: HSBC Bank) Affected Regions: East Coast and Gulf Coast ports, spanning from Maine to Texas Economic Consequences: - Disruption of global supply chains - Potential shortages and price increases - Significant economic losses for industries reliant on imported goods Negotiation Breakdown: ILA and USMX negotiations stalled, prompting the strike Potential Resolution: Government intervention or renewed negotiations between ILA and USMX The strike's severity and timing, amidst the peak holiday season and presidential election campaign, underscore the urgent need for a resolution. Source: https://lnkd.in/ddX9b6SP For comprehensive maritime data, check www.shipsdnaportal.com and follow us ShipsDNA Portal for more maritime news. #ShipsDNA #MaritimeNews #Day2PortStrike #PortStrike #EconomicImpact #ShippingHalt #ILA #USMX #EastCoast #GulfCoast