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📌 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

🚨⚓️ The ILA Strike Ends: Updates on US East Coast and Gulf Ports The ILA port worker strike across US East Coast and Gulf ports, which began on Monday night, came to an end yesterday. The strike, though short-lived, caused significant disruptions and delays as logistics providers, shippers, and carriers scrambled to adapt. 🛑📦 With the strike now concluded, the immediate challenge is managing the backlog of containers and vessels that accumulated at impacted ports. Operations are ramping back up, but congestion and delays may persist for some time, especially at major ports like New York/New Jersey, where around 40 vessels had arrived or were waiting. 🚢🔄 During the strike, some carriers diverted vessels from East Coast ports to Mexico and Canada, and some stopped accepting new reefer bookings. Surcharges for dry container bookings were also introduced, pushing up freight rates. Now that ports have reopened, surcharges and rate hikes are being reassessed, but it will take time for operations to fully normalize. 📊📈 Demand had already shifted to the West Coast in anticipation of a prolonged strike, and rates there could remain elevated as ports adjust to changing volumes. West Coast ports, which were prepared for a surge, managed to avoid major disruptions, but ongoing congestion is still a risk as volumes fluctuate. ✈️📦 Anticipation of the strike also led some shippers to switch from ocean to air cargo, especially for perishable goods. China-N. America air rates rose 9% last week, and with Q4 peak season approaching and e-commerce demand continuing, air cargo rates could stay high or increase further. ⚠️ The ILA and USMX have returned to negotiations, with the goal of reaching a lasting agreement. The strike's impact on capacity, congestion, and freight rates will be felt in the short term, but the logistics community is hopeful for a stable resolution that ensures smooth operations moving forward. #SupplyChain #Logistics #PortStrike #ShippingIndustry #OceanFreight #AirCargo #FreightRates #GlobalTrade #PortCongestion #ILAStrike

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

🚨 Important Update on U.S. Port Strike 🚨 As of midnight, a major strike has shut down ports along the U.S. East and Gulf Coasts, causing significant disruptions. Here’s what you need to know: 🔒 Port Shutdowns: Ports in the Gulf of Mexico and East Coast are closed, leading to potential delays in cargo movement. 🚢 Rerouting & Rate Adjustments: Vessels are being rerouted to the West Coast, resulting in increased rates and surcharges. 💸 West Coast Shipping Costs: Consider shipping through West Coast ports as capacities and costs are tightening. 📈 Drayage Rate Increases: West Coast drayage carriers are raising rates, with further capacity tightening expected if the strike continues. 🚛 Trucking Capacity: Increased demand on the West Coast may lead to capacity constraints. Proactive discussions are encouraged to ensure coverage. ***WE HAVE 53’ Dry Vans and Reefer Trailers available for temporary transload/storage relief, as well as nearby yards for container or trailer storage. Feel free to reach out with any questions or concerns. We’re here to help you navigate these challenges and keep your supply chain running smoothly. #SupplyChain #Logistics #PortStrike #Shipping #Freight Summary of the Situation: • Dockworkers Strike: Initiated by the International Longshoremen’s Association (ILA) due to unresolved contract negotiations. • Economic Impact: Expected to cost the U.S. $5 billion per day. • Support from Teamsters: Strong backing for ILA workers, urging no government intervention. • Import Disruptions: Affects essential goods like machinery, vehicles, beverages, bananas, and vaccines. Stay informed and prepared! 📦🚚

⚠ 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

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

Many shippers are more concerned about the effects on cost, than on the port closures/slow down. here are some points i think we should all be considering, so that we are prepared in case there is a strike. A port strike can cause Ocean Freight rates to rise due to the following factors. Reduced capacity: A port strike can cause backlogs and tie up capacity as some vessels wait for ports to reopen. Diversions: A strike can lead to diversions to West Coast port alternatives, which can cause congestion at those ports too. Seasonal demand: If the strike lasts long enough, seasonal demand increases ahead of Lunar New Year could put additional upward pressure on operations and rates. Limited vessel capacity: Limited vessel capacity could force shippers to move to the spot market, driving up prices. Other factors that can contribute to rising ocean freight rates include: Global shipping disruptions, Fluctuating demand, Price increases, Bottlenecks at port terminals, and Red Sea complications. Rate pressure usually happens after a port strike, similar to the West Coast strike of 2023.

🚨 Important Update on U.S. Port Strike 🚨 As of midnight, a major strike has shut down ports along the U.S. East and Gulf Coasts, causing significant disruptions. Here’s what you need to know: 🔒 Port Shutdowns: Ports in the Gulf of Mexico and East Coast are closed, leading to potential delays in cargo movement. 🚢 Rerouting & Rate Adjustments: Vessels are being rerouted to the West Coast, resulting in increased rates and surcharges. 💸 West Coast Shipping Costs: Consider shipping through West Coast ports as capacities and costs are tightening. 📈 Drayage Rate Increases: West Coast drayage carriers are raising rates, with further capacity tightening expected if the strike continues. 🚛 Trucking Capacity: Increased demand on the West Coast may lead to capacity constraints. Proactive discussions are encouraged to ensure coverage. We have 53’ Dry Vans and Reefer Trailers available for temporary transload/storage relief, as well as nearby yards for container or trailer storage. Feel free to reach out with any questions or concerns. We’re here to help you navigate these challenges and keep your supply chain running smoothly. #SupplyChain #Logistics #PortStrike #Shipping #Freight Summary of the Situation: Dockworkers Strike: Initiated by the International Longshoremen’s Association (ILA) due to unresolved contract negotiations. Economic Impact: Expected to cost the U.S. $5 billion per day. Support from Teamsters: Strong backing for ILA workers, urging no government intervention. Import Disruptions: Affects essential goods like machinery, vehicles, beverages, bananas, and vaccines. Stay informed and prepared! 📦🚚

🚨 Important Update on U.S. Port Strike 🚨 As of midnight, a major strike has shut down ports along the U.S. East and Gulf Coasts, causing significant disruptions. Here’s what you need to know: 🔒 Port Shutdowns: Ports in the Gulf of Mexico and East Coast are closed, leading to potential delays in cargo movement. 🚢 Rerouting & Rate Adjustments: Vessels are being rerouted to the West Coast, resulting in increased rates and surcharges. 💸 West Coast Shipping Costs: Consider shipping through West Coast ports as capacities and costs are tightening. 📈 Drayage Rate Increases: West Coast drayage carriers are raising rates, with further capacity tightening expected if the strike continues. 🚛 Trucking Capacity: Increased demand on the West Coast may lead to capacity constraints. Proactive discussions are encouraged to ensure coverage. We have 53’ Dry Vans and Reefer Trailers available for temporary transload/storage relief, as well as nearby yards for container or trailer storage. Feel free to reach out with any questions or concerns. We’re here to help you navigate these challenges and keep your supply chain running smoothly. #SupplyChain #Logistics #PortStrike #Shipping #Freight Summary of the Situation: Dockworkers Strike: Initiated by the International Longshoremen’s Association (ILA) due to unresolved contract negotiations. Economic Impact: Expected to cost the U.S. $5 billion per day. Support from Teamsters: Strong backing for ILA workers, urging no government intervention. Import Disruptions: Affects essential goods like machinery, vehicles, beverages, bananas, and vaccines. Stay informed and prepared! 📦🚚 Please shoot me an email at rbrennan@tql.com if you need any help!