Potential labor strikes at US East & Gulf coast ports and Canadian railways may cause supply-chain disruptions and cargo backlogs.
Potential labor strikes at US East & Gulf coast ports and Canadian railways could cause volatility in container freight rates, leading to supply-chain disruptions. The International Longshoremen's Association plans to strike if a new contract isn't in place by Oct 1st, while Canadian National Railway & Canadian Pacific Kansas City plan to lock out rail workers if labor agreements aren't reached. These strikes could result in cargo backlogs lasting weeks or months, with early shipping strategies leading to high costs for shippers. A one-week strike could require up to six weeks of recovery time, while a two-week strike could cause ports to not return to normal operations until 2025.
August 22, 2024
12 Articles