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The researcher estimated that the strike will cost the US $3 billion to $5 billion a day. Shipping costs and delays could escalate, impacting global trade if the strike continues.
United States Analysts at Sea Intelligence estimated that $3.7 billion in un-handled freight would be lost per day by the strike in East Coast ports alone, based on them handling an estimated 74,000 shipping containers per day for October 24 worth an average of about $50,000.
Attacks on container ships in the Red Sea have wreaked havoc on one of the world’s most important trade routes, increasing shipping costs and raising inflation fears. Here’s what you need to know.
Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo. For example, bulk coal long-distance rates in America are approximately 1 cent/ton-mile. [2] So a 100 car train, each carrying 100 tons, over a distance of 1000 miles, would cost $100,000.
An analysis by JPMorgan estimated the daily cost of a port strike by East and Gulf Coast port workers to the U.S. economy between will be $3.8 billion and $4.5 billion per day as operations slow.
A survey for the six years 2008 through 2013 estimates average losses of individual containers overboard at 546 per year, and average total losses including catastrophic events such as vessel sinkings or groundings at 1,679 per year [119] More recently, a survey conducted by the WSC from 2008–2019, saw an average of 1,382 shipping containers ...
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