The union representing about 15,000 dockworkers at the U.S.’s largest ports declined an offer by employers to extend existing labor contracts for a year, setting the stage for heated negotiations.
The number of days containers are waiting to be picked up by trucks at California’s neighboring ports of Los Angeles and Long Beach climbed to a record in October, just before officials announced a new plan to clamp down on the backlog in collections.
The high-profile but temporary unavailability of semiconductors and other industrial components is getting a lot more coverage these days than the chronic shortage of an even more vital resource: water.
Coffee snobs have a lot to worry about right now. A global shortage of beans is already threatening to push up prices at cafes and supermarkets. Now, your morning cappuccino or latte might start leaving a bitter taste for other reasons too.
Asia’s largest ports are showing signs that congestion is easing ahead of the holiday season, a potentially positive step for key trade gateways in the U.S. that are still battling an influx of imports.
Food prices will likely stay elevated in 2022 as disruptions to the global supply chain are set to persist, according to the head of Cargill, who highlighted labor shortages as one of the biggest risks facing the industry.
California will increase weight limits for trucks carrying goods in and out of its ports in an effort to ease supply chain bottlenecks and clear containers off the docks of Los Angeles and Long Beach.
Ocean freight rates, which have pummeled retailers and manufacturers throughout 2021, may take more than two years to return to normal levels if past market cycles are any guide.