Special ALERT: U.S. East Coast / Gulf Coast Port Strike

Further to the report “US: Potential East Coast/Gulf Coast Port Strike” featured in issue #52 of reloBuzz, the labor contract dispute between the United States Maritime Alliance (USMX) and the International Longshoreman’s Association (ILA) continues. Recent bargaining sessions recommending a short contract extension to keep both parties at the bargaining table have failed, and the ILA vow to strike when the current contract extension expires December 29th.

If the dispute is not resolved before the December 29thdeadline it will effectively shut down ports along the East andGulf Coasts of the U.S.; major hubs affected will include New York, New Jersey, Baltimore, Boston, Norfolk, Savannah,Miami, New Orleans and Houston. With those ports shut down, Canadian and US West Coast ports will be backlogged with overflow cargo, shipments will be subject to “Force Majeure”, and companies will incur additional demurrage costs and congestion charges.

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