Recently, Lecex participated in the 2nd edition of the Comex Tech Forum, an event that brought together top industry experts to discuss technological innovations and their impact on foreign trade. In addition to technological solutions, participants discussed the growing challenges faced by the global supply chain amid international crises. Professor HOC emphasized that 'with the increase in global conflicts, geopolitical risks may lead to blockages and changes in key routes for global navigation, directly impacting global supply chains.'
The most current issue is happening at U.S. ports, where the largest longshoremen strike in 50 years is paralyzing 36 major terminals, primarily on the East Coast and Gulf Coast. The strike was triggered after lengthy negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) failed to reach a satisfactory agreement. The stoppage threatens to cause deep impacts on global supply chains, especially at a critical time of year when demand for imports peaks due to increased consumption during year-end festivities.
In addition to the immediate delays in logistics and trade operations, the strike may cause a cascade of effects, from product shortages to increased transportation costs. Even with a quick resolution, the effects of this stoppage could be long-lasting, with disruptions possibly extending into early 2025, requiring significant efforts to restore normality in port operations and international trade.
Adding to these challenges, events in the Middle East are also exacerbating the global geopolitical landscape, intensifying their logistical and commercial implications. In light of this scenario, our team of experts is continuously monitoring the situation to ensure the most effective measures are adopted, minimizing the impacts on the entire global supply chain.
After pressure from the White House, the dockworkers' strike in the U.S. has been suspended. The union, which represents 45,000 dockworkers on the East Coast and Gulf Coast, agreed to suspend the mobilization, which began in early October, until January 15, 2025. The ILA is expected to resume work immediately, and the agreement will give the union and the U.S. Maritime Alliance more time to negotiate a new six-year contract, along with an agreement on wage increases.
The region's ports still have to deal with a backlog of delayed shipments, so delays may still occur. Our team of specialists is closely monitoring the situation to keep our clients informed with every new update.