$4.7 billion of trade stalled, due to an 8-day strike of workers at the Port of Felixstowe

The U.K.'s largest container port, Felixstowe, is at a halt after 1,900 members of the Unite union protested for 8 days over failed wage negotiations, which impacted $4.7 billion of containers
The congestion will worsen in Europe due to an increase in canceled sailings and container rollovers, and will further impact the supply chain.
The average cargo lead time for the TransAtlantic path soared to 27 days in July, which is close to its all-time high of 29 days at the start of the year.
The strike can affect the arrival of holiday products as the Port of Felixstowe processes over 48% of the UK's container trade
The strike will also affect U.S. companies and industries that export to the U.K. as $66.7 million of US exports were processed in the Port of Felixstowe for August 2021.
The flow of USA/UK export and import freight will be disrupted as the in-route cargo will be rerouted, causing delays and added expenses for everyone.

Image: MSN

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