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Date: 21/01/2025

Shippers face issues after port strike averted at last minute across US East, Gulf Coast 

Before the International Longshoremen’s Association and the United States Maritime Alliance reached a tentative deal on a six-year contract, shippers front-loaded cargo and paused bookings, which will cause hiccups for some supply chains. Though a strike across East Coast and Gulf Coast ports was averted, shippers still took action to mitigate potential port closures, lengthening cargo delivery times and elevating volumes in the short term. In addition to front-loading cargo, shippers also sourced from secondary supply and shifted a portion of inbound flow to West Coast ports. These actions have resulted in increased inventory, longer transit times and higher transportation costs. The impact will likely be seen on the balance sheet (inventory) or cost of goods sold (COGS), and it may affect margins and working capital in the short term. While a variety of shippers will be impacted by the actions taken ahead of the potential strike, US export reefers and hazmat freight will be more acutely affected by carrier mitigation actions, as per a report.
 
Source: Exim News Service: New York, Jan. 20



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