Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Ports on the US East
and Gulf Coast have seen the conclusion of strike action following the
achievement of a new wage accord. The International Longshoremen's Association
and the United States Maritime Alliance have come to a provisional agreement on
wages, alongside a commitment to extend the Master Contract until 15 January
2025, facilitating further discussions, notably on port automation.
The cessation of the three-day strike has led to a
significant backlog, with 44 vessels awaiting entry and over 120 en route, as
reported by Xeneta and Kuehne+Nagel, and Xeneta and Marine Benchmark,
respectively. The market has
expressed relief at the resolution, acknowledging the potential for extensive
disruption to global supply chains.
Peter Sand, Xeneta
Chief Analyst, highlighted the potential long-term effects on global supply
chains, including delayed schedules into the Far East and subsequent impacts on
freight rates. Recent Xeneta data
indicates a 58% increase in average spot rates from North Europe to the US East
Coast and a 48% increase to the US West Coast since the end of August. Despite the strike's
end, the agreement remains provisional, with automation at ports still a
contentious issue.
Sand cautioned that
the market faces challenges ahead, with the possibility of further strikes if
negotiations fail within the 100-day timeframe.
