October 4, 2024
For the first time in almost 50 years, the ILA (International Longshoremen’s Association) went on strike this week. 45,000 dock workers, from Maine to Texas, began striking at midnight on October 1, effectively shutting down 36 critical ports along the East and Gulf Coast. Fortunately, a deal was reached yesterday that effectively ended the strike. If it had lasted much longer, it could have caused significant damage to an economy already dealing with the recent storm damage caused by Hurricane Helene.
Now that the strike is over, how long will it take to clear the backlog? And, what does this mean for chemical supply chains?
Some chemicals (i.e. Caustic Soda, Acetone, and Isopropyl Alcohol) are both domestically produced and imported in significant quantities from overseas suppliers. Chemicals such as these do normally move through the affected East Coast ports, and the possibility of upward price pressure from domestic manufacturers would have been very real, if the strike had lasted. However, as things stand, we do not foresee a significant impact to these or other chemicals we supply. Any impact we’ve seen thus far has been minor in nature, and with very little consequence. The backlog is expected to clear within 2-3 weeks.
With any questions about recent world events and how they may affect your chemical supply and/or price, reach out to a representative. We look forward to speaking with you!
