Jan. 16, 2025 — A potential strike at East Coast and Gulf Coast ports has been avoided following the announcement of a tentative six-year labor agreement between the International Longshoremen’s Association and the U.S. Maritime Alliance. The deal ensures that workers will remain on the job until the agreement is ratified, averting a strike that could have begun Jan. 16 after a temporary contract extension reached in October was set to expire Jan. 15.
Despite the agreement, the nation’s major container ports have already experienced a significant surge in imports. According to the Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates, this increase was driven by concerns over potential labor disruptions and anticipated tariff hikes under the incoming administration. Retailers, aiming to stockpile goods, accelerated shipments of spring merchandise and other products to mitigate potential supply chain challenges.
“The new contract brings certainty and avoids disruptions, and we hope to see it ratified as soon as possible,” says NRF vice president for supply chain and customs policy Jonathan Gold. “But the agreement came at the last minute…resulting in higher imports. The long-term impact on imports remains to be seen.”
“Just a few days ago, the clock was ticking down toward a possible strike at U.S. East and Gulf Coast ports, and an agreement that would avoid a shutdown appeared to be some way off,” says Ben Hackett, founder of Hackett Associates. “We have narrowly averted a strike, but that doesn’t mean there hasn’t been an impact. Importers had already front-loaded cargo in anticipation of delays, giving a boost to imports in December and early January.”
U.S. ports monitored by the Global Port Tracker handled 2.17 million Twenty-Foot Equivalent Units (TEUs) in November, a decrease of 3.2% from October but an increase of 14.7% compared to the same period last year. December imports were projected at 2.24 million TEUs, marking a 19.2% year-over-year increase. If confirmed, this would bring the total for 2024 to 25.6 million TEUs, up 15.2% from 2023. Previous forecasts had estimated the total for 2024 at 24.9 million TEUs before the labor and tariff concerns arose.
January imports are expected to reach 2.16 million TEUs, a 10% year-over-year increase. February is forecast at 1.87 million TEUs, reflecting a 4.5% decline due to Lunar New Year factory shutdowns in China. March imports are projected at 2.13 million TEUs, up 10.6%, with further increases expected in April and May.