IQ Insider

Prolonged Dockworkers Strike Would Raise Component Pricing and Lead Times

Written by Supplyframe | Oct 3, 2024 8:15:48 PM

An extended walk-off by members of the International Longshoremen’s Association (ILA) employed at United States East and Gulf Coast ports would raise rates by thousands of dollars per container via carrier surcharges. Thousands of ILA workers seek hefty pay increases and a crane and port container truck automation ban. From Northern Europe to the U.S. East Coast, forty-foot container pricing is up 32% month-on-month per the Xeneta Shipping Index. Any impacts would add to additional service fees or price hikes from component makers and distributors, including Avnet, which added service fees for new shipments in June.