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A dockworkers strike at U.S. East and Gulf Coast ports – from Maine to Texas – is expected to severely impact global supply chains and the economy. The strike's disruption could affect billions of dollars in cargo with immediate delays for vessels as well as future delays.
The work stoppage on 1 October 2024 followed a lengthy deadlock in labor talks between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), a shipping industry group representing terminal operators and ocean carriers.
Thirty-six East and Gulf coast ports shut down including but not limited to Baltimore; Boston; Charleston, South Carolina; Jacksonville, Florida; Miami; Houston; Mobile, Alabama; New Orleans; New York/New Jersey; Norfolk, Virginia; Philadelphia; Savannah, Georgia; Tampa, Florida; and Wilmington, Delaware.
Some experts warn of cascading effects throughout the global economy if the strike lasts. Danish shipping giant Maersk predicted that even a one-week shutdown could take up to six weeks to recover, compounding delays daily.
Regarding the event’s impact on relocation, international shipping and global supply chains are bracing for potential disruption this week and the weeks ahead, but as this situation evolves and we learn more, NEI and our service partners will keep clients advised of specific shipments affected, as well as provide an update on future shipments and how the situation impacts the supply chain.
If you have any questions about this situation, please contact your NEI Client Relations Manager at 800.533.7353 at any time.
This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.
A dockworkers strike at U.S. East and Gulf Coast ports – from Maine to Texas – is expected to severely impact global supply chains and the economy. The strike's disruption could affect billions of dollars in cargo with immediate delays for vessels as well as future delays.
The work stoppage on 1 October 2024 followed a lengthy deadlock in labor talks between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), a shipping industry group representing terminal operators and ocean carriers.
Thirty-six East and Gulf coast ports shut down including but not limited to Baltimore; Boston; Charleston, South Carolina; Jacksonville, Florida; Miami; Houston; Mobile, Alabama; New Orleans; New York/New Jersey; Norfolk, Virginia; Philadelphia; Savannah, Georgia; Tampa, Florida; and Wilmington, Delaware.
Some experts warn of cascading effects throughout the global economy if the strike lasts. Danish shipping giant Maersk predicted that even a one-week shutdown could take up to six weeks to recover, compounding delays daily.
Regarding the event’s impact on relocation, international shipping and global supply chains are bracing for potential disruption this week and the weeks ahead, but as this situation evolves and we learn more, NEI and our service partners will keep clients advised of specific shipments affected, as well as provide an update on future shipments and how the situation impacts the supply chain.
If you have any questions about this situation, please contact your NEI Client Relations Manager at 800.533.7353 at any time.
This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.
