South Korea’s trucker's strike entered 2nd week, increasing container dwell times by 226%

Posted on June 20, 2022   |  

• Cargo truckers' Solidarity union authorities are planning to block shipments of coal to a power plant if the government denies their demands for a minimum wage guarantee to cushion rising fuel prices.
• The dispute pushed steelmaker POSCO to shut down some of its plants and cost South Korean automakers thousands of vehicles, Petrochemical firm's average daily shipments from plants fell by 90%. 
• The strike impacted container dwell times heavily as export container dwell times is now at 11.4 days, increasing by 226% from last week’s 3.5 days, while import container dwell times are now at 14.3 days, an increase of 258% from last week’s 4 days.