40+ vessels wait to offload as US port strike ends, cargo delays persist

Posted on October 7, 2024   |  

The port strike on the US East and Gulf Coasts ended with a temporary wage agreement between the ILA and USMX, and the Master Contract was extended until January 15, 2025.

On October 10 at 5 am, 44 ships were waiting to dock, with over 120 more ships still on their way to the affected ports.

The 3-day strike may cause further delays in shipments to the Far East, affecting schedules into 2025, including the Lunar New Year period.

Shipping rates from North Europe to the US East Coast rose by 58% since August, reaching US$2,900 per FEU on October 4.

Rates for North Europe to the US West Coast also went up by 48% during the same time, now at US$4,450 per FEU.

The strike’s effects could last through the end of the year, disrupting shipping and supply chains into 2025.