Cargo Carriers Fear Port Strike Will Paralyze Half of US Trade

By Brendan Murray
BNN Bloomberg
September 27, 2024
Category: Business & Politics
Region: United States, US East

The world’s top container carrier is urging customers to move US cargo through East and Gulf Coast ports before the planned start on Tuesday of a dockworker strike. MSC Mediterranean Shipping said the talks “may not be resolved” by the Sept. 30 deadline, resulting in closures at terminals starting Oct. 1. That would delay the shipping of containers — both imports and exports — on trucks and railroads through ports from Boston to Houston. …The Geneva-based company said that it will continue to accept requests for dry cargo services while reserving the right to “not accept new refrigerated bookings.” Hapag-Lloyd cautioned that industrial action would will raise freight rates. …Oxford Economics estimated that a strike would cost the US economy $4.5 billion to $7.5 billion a week. …But the fallout of even a short strike would be costly for many retailers, manufacturers and other importers trying to ensure timely shipments.

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