Current BC Port Strike Status and The Inevitable Fallout
The recent labour tangle at the BC Ports took a toll not just on Canada, but also rippled across the border to its neighbour, the United States. The stoppage has persisted through most of July, causing vessel diversions, congestion, and a significant loss in revenue for many businesses.
The Aftermath of the BC Port Strike
The aftermath of the BC Port Strike creates a complex jigsaw puzzle that needs untangling.
Businesses that re-routed deliveries through alternative ports are now facing additional transit times. CN Rail anticipates two months to recover from this turmoil. And in a recent earnings call, Canadian Pacific disclosed "At this point, we're estimating the strike had a negative impact of about $80 million in revenue, much of which we will work hard to claw back over the remainder of Q3 and Q4".1
As per insights gathered from The Canadian Manufacturers and Exporters (CME), one day of port shutdown translates into up to a week’s loss in activities. CME predicts weeks to process severe backlogs caused by this extended strike impacting almost 70% of manufacturers significantly.2
The BC Port workers will vote to end the 13-day strike on July 28th. Even if an agreement is reached, recovering from the subsequent disruptions will take months.
If your Vancouver business has been impacted by delays due to the BC Port Strike, Overseas Container Logistics is here to help. Our blend of experience and freight forwarding experience (air, ocean, and surface), can help you navigate the fallout and minimize delays.
Overseas Container Logistics (OCL) is a 3PL commercial freight-forwarding company based in Richmond, British Columbia.
If you have any questions about this article or would like to talk to us about your transportation and freight needs, give us a call at 604-774-8177.