Early US imports lessen risk from seaport strike


The ILA and employers represented by United States Maritime Alliance are at odds over issues ranging from automation to wages. — Reuters

LOS ANGELES: US retailers’ early back-to-school, Halloween and Christmas holiday imports may lessen cargo delays and financial damage should workers at vital seaports such as New York and Houston strike in October, says a trade economist.

The International Longshoremen’s Association (ILA) represents 45,000 dockworkers at three dozen US ports from Maine to Texas and handle half of the nation’s ocean trade. The ILA and employers represented by United States Maritime Alliance (USMX) are at odds over issues ranging from automation to wages.

“Retailers are concerned by the possibility of a strike at ports on the East and Gulf coasts because contract talks have stalled,” said Jonathan Gold, vice-president of supply chain and customs policy at the National Retail Federation.

Those seaports handle roughly half of US container imports, and any strike or slowdowns would hit ahead of the US presidential election.

The ILA said it has scheduled a meeting to prepare for a potential strike if a new agreement is not in place by Sept 30.

USMX said in a statement it is ready to return to bargaining.

Companies such as Walmart, Target, Home Depot and Amazon.com, started importing laptops, Halloween costumes and toys during the spring. Typically, such holiday-related imports land at US ports between August and October.

In July, US container freight imports climbed 14% year-over-year, according to S&P Global Market Intelligence. That marked the third-highest monthly level for US container imports, according to supply-chain-software provider Descartes Systems Group. — Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

UEM Sunrise on track to hit RM1bil sales target
Perodua teams up with PETRONAS Dagangan and Gentari to improve services and EV support
Karex 1Q net profit tumbles 73.4% to RM1.4mil
DRB-Hicom focuses on digital transformation
FBM KLCI falls for third day, weighed down by Tenaga, YTL stocks
Oil prices climb as geopolitical tensions outweigh US inventories
Indonesian rupiah at three-month low; Asia stocks drop on Russia-Ukraine tensions
PM Anwar: Value of Malaysian business ventures in Vietnam exceeds US$13bil
Bank Rakyat issues inaugural RM500mil Asean sustainability SRI sukuk
China to beef up offshore wind power

Others Also Read