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Felixstowe port strike could result in US$800 million in lost trade

According to the ALPS Marine analysis by Russell Group, the proposed strike at the UK port of Felixstowe could result in over US$800 million in trade disruptions. Over 1,900 members of the British trade union Unite are set to strike at the port from 21 until 29 August in a dispute about a pay increase.

Many experts believe that because of the disruption at Felixstowe, trade will be diverted to smaller ports in the UK but also other international ports including Wilhelmshaven, Germany, which has a significantly higher trade inflow than Felixstowe.

Suki Basi, Russell Group managing director: "The disruption at Felixstowe spells more uncertainty for businesses, consumers and governments alike. Ports across the globe facing congestion, due to a large backlog caused by the pandemic. As our analysis has shown today, these strikes could increase the backlog and in doing so, create even more delays, and the effects of this will only be registered in the coming weeks and months."

According to Unite, more than 500 port operatives at the Port of Liverpool will also strike over pay.

Source: container-news.com


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