22,000 Union Workers At 29 West Coast Ports May Strike
Mar 31, 2022 17:50:58 GMT -5
Post by ExquisiteGerbil on Mar 31, 2022 17:50:58 GMT -5
22,000 Union Workers At 29 West Coast Ports May Strike
THURSDAY, MAR 31, 2022 - 10:45 AM
By Dees Stribling of Bisnow National
The international supply chain crisis that has impacted U.S. logistics firms, retailers and consumers could intensify this summer.
West Coast union dockworkers may strike if they don't come to an agreement to replace their existing contract with marine terminals. The contract is set to expire at the end of June.
Major retail chains have already ordered extra goods from Asia as insurance against a breakdown in contract talks, keeping the goods at newly developed storage yards near the twin California ports of Long Beach and Los Angeles. Such lots allow retailers to move containers more quickly, preventing them from being delayed under piles of cargo at congested ports.
Walmart alone has room for 4,000 shipping containers at the ports' overflow yards, Pacific Terminal Services Vice President of Commercial Operations Sepehr Matinifar told The New York Times.
Space constraints in the area led to the rise of the new storage yards. By Q2 2021, industrial vacancy near the ports of Los Angeles and Long Beach was below 1%, according to CBRE.
Even with beefed-up orders kept in storage yards, a slowdown or strike by West Coast dockworkers would compound the pandemic-induced supply chain woes that have seen record backlogs of container ships off the ports of Los Angeles and Long Beach waiting to be unloaded.
Continued at link
THURSDAY, MAR 31, 2022 - 10:45 AM
By Dees Stribling of Bisnow National
The international supply chain crisis that has impacted U.S. logistics firms, retailers and consumers could intensify this summer.
West Coast union dockworkers may strike if they don't come to an agreement to replace their existing contract with marine terminals. The contract is set to expire at the end of June.
Major retail chains have already ordered extra goods from Asia as insurance against a breakdown in contract talks, keeping the goods at newly developed storage yards near the twin California ports of Long Beach and Los Angeles. Such lots allow retailers to move containers more quickly, preventing them from being delayed under piles of cargo at congested ports.
Walmart alone has room for 4,000 shipping containers at the ports' overflow yards, Pacific Terminal Services Vice President of Commercial Operations Sepehr Matinifar told The New York Times.
Space constraints in the area led to the rise of the new storage yards. By Q2 2021, industrial vacancy near the ports of Los Angeles and Long Beach was below 1%, according to CBRE.
Even with beefed-up orders kept in storage yards, a slowdown or strike by West Coast dockworkers would compound the pandemic-induced supply chain woes that have seen record backlogs of container ships off the ports of Los Angeles and Long Beach waiting to be unloaded.
Continued at link