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Top Takeaways
Strikes, Storms and Surging Demand Disrupt Supply Chains Across US and Asia Pacific
Dockworkers represented by the International Longshoreman Association (ILA) began a strike impacting all major container ports from Texas up the East Coast. Disagreements between the ILA and the United States Maritime Alliance (USMX) on wages terms and benefits provided to workers are not expected to be resolved shortly, leading to extended delays and disruptions likely to be felt for weeks or months. The Biden administration is not expected to impose the Taft-Hartley act, which could suspend the current labor action and require good faith negotiations between the two sides.
Hurricane Helene impacted the southeastern United States with the largest impacts felt in Florida, Georgia, Tennessee and the Carolinas. Airports across these states canceled hundreds of departures and arrivals as the storm swept through. Beginning October 1, the situation is expected to normalize with significant impacts still seen in certain areas including Asheville, Charlotte and Atlanta.
The air cargo peak season is poised to kick off. Demand has continued to build throughout 2024 due to ongoing eCommerce volume from many APAC hubs, and capacity continues to lag, leading to increases in rates on most major lanes out of the region. Additional impacts are expected to be felt as the Golden Week holiday will impact China in the coming weeks, closing factories across the country in observation.
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