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US East Coast Strike Threatens Supply Chain
- Posted in category: Germany
- 03/10/2024
US East Coast Dockworker Strike Enters Third Day: Supply Chain Disruption Grows
The US East Coast dockworker strike, led by members of the International Longshoremen’s Association (ILA), has reached its third day, with no clear resolution in sight. Ports along the East and Gulf coasts remain paralyzed, raising concerns about significant supply chain disruptions.
The United States Maritime Alliance (USMX) has expressed its willingness to negotiate but stated they cannot agree to preconditions for resuming talks. The ILA, however, remains firm in its demands, amid reports of death threats to union leaders, including President Harold Daggett.
The strike has gained political support from President Joe Biden and Acting US Labor Secretary Julie Su. Meanwhile, container ships continue to head towards the East Coast, with limited options but to anchor and wait upon arrival.
According to analysts, the strike is impacting 62 deepsea services, with an initial weekly capacity loss estimated at 775,000 TEU. If the strike persists for four weeks, nearly 7% of the global shipping fleet could be tied up, leading to significant supply chain disruptions.
Currently, 368 vessels are en route to affected ports, with some already rerouting to locations like the Bahamas and Panama. The total value of goods at sea has risen to $40 billion, up from $38 billion on day one of the strike.