Potential Port Shut Downs as Strike Looms

"A labor strike that would shut down six out of 10 of the busiest ports in the US just weeks before the presidential election is looking increasingly likely", per Bloomberg.

Negotiations for a new labor deal at East Coast and Gulf ports are at a standstill.

According to statements from the United States Maritime Alliance (USMX) and International Longshoremen's Association (ILA) the two parties are far apart on a deal.

The Union of the ILA is seeking increased wages to make up for inflation and "Extraordinary profits won by the Ocean Liners during the Pandemic", according to Bloomberg.

Harold Daggett, ILA President, said that if a deal is not reached by the last weekend of September there will be a strike. These strikes will effect several ports such as Boston and Houston.

The potential strikes would come just weeks before the election.

How could this affect trucking?

With a potential port strike, hurricane season, and a looming election, this could be a perfect storm for rate hikes that brokers and carriers are so desperately looking for.