Port deal averts strike ‘disaster,’ but caution urged on container rates
A tentative East and Gulf Coast port labor contract is expected to have a calming effect on container shipping rates, but an array of other, still-unresolved, issues warrant caution throughout the supply chain.
“The agreement between the International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) must be welcomed because a strike had the potential to be a supply chain and economic disaster, but it highlights the difficulties facing shippers in managing supply chain risk,” said Emily Stausboll of shipping analyst Xeneta, in a release.
Ocean carriers, terminal operators and the dockworkers union on Wednesday announced a landmark agreement covering 25,000 workers that will allow automation technology at container ports on the Eastern Seaboard and Gulf of Mexico while guaranteeing more ILA pos
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