The chain effect of strikes by dock workers on the East Coast and Gulf Coast of the United States will trigger severe disruptions in the supply chain, potentially reshaping the container shipping market landscape before 2025.
Analysts warn that the government should intervene to avoid significant economic losses. If the labor and management sides cannot reach a new agreement before the contract expires on September 30th, 36 ports will be prepared to shut down completely. Peter Sand, Chief Analyst at Xeneta, stated that currently, ships at sea are carrying billions of dollars worth of cargo heading towards ports along the US and Gulf of Mexico coasts, and these ships may not be able to return or redirect to the West Coast of the United States. Some ships may choose to dock at ports along the east coast of Canada or even Mexico, but most ships will anchor outside the ports affected by the strike until workers return to their posts.
Peter pointed out that the consequences would be serious, not only causing congestion in US ports, but also forcing docked ships to postpone their return to the Far East for the next voyage. The one week strike will affect the shipping schedules from the Far East to the United States in late December and throughout January. Given that over 40% of container cargo enters the United States through ports on the East Coast and the Gulf of Mexico, the impact of the strike will be enormous, and the US economy will be severely damaged as a result.
Last week, 177 industry associations called for an immediate resumption of negotiations between the two sides, viewing government intervention as a key force to avoid the harm caused by port strikes to the supply chain and economy.
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Post time: Oct-11-2024
