US east coast port workers are on strike:
- nearly 45,000 workers are out on strike
- as far north as Maine to as far south as Texas
However, west coast ports are still open and rockin’ business.
Via NBC in LA:
- Ports in California, Oregon, Washington, Hawaii, and British Columbia are unionized under the “International Longshore and Warehouse Union” instead, or ILWU. The ILWU isn’t expected to hold a similar stoppage. It ratified its most recent six-year contract last year, which garnered 75% overall approval from workers.
- Port of Los Angeles Executive Director Gene Seroka said several importers have “fractionally shifted” some of their allocations to the twin ports of LA, busiest container port in North America, and Long Beach.
Seroka said the ports are prepared if the strike forces a diversion of shipments from the East and Gulf coast ports to Southern California.
This article was written by Eamonn Sheridan at www.forexlive.com.
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