As China prepares for its annual Golden Week holiday from October 1st to 7th, the shipping and logistics industry is bracing for significant disruptions due to ongoing strikes by the International Longshoremen’s Association along the East and Gulf Coast ports.

As Golden Week approaches in China, businesses worldwide are gearing up for the impact this holiday will have on global supply chains. Golden Week, which begins on October 1st and ends on October 7th, is the celebration of China's National Day.

US importers of Europe-sourced goods are facing a challenging autumn with potential disruptions on both coasts. The rail shutdown in Canada could impact North American gateway ports later this week, while a dockworker strike at US East and Gulf Coast terminals looms at the end of September.

Ocean schedules on major trade lanes from Asia are expected to worsen following a significant explosion aboard the Yang Ming vessel YM Mobility, which led to the closure of the Ningbo port, a key Chinese export hub.

The International Longshoremen's Association (ILA) seeks a nearly 80% wage increase in its next six-year contract with maritime employers on the East and Gulf coasts. This demand follows the ILA's issuance of a 60-day notice to the United States Maritime Alliance (USMX). This indicates the union's willingness to strike if an agreement isn't reached by the end of the current contract on September 30th.

The air cargo peak season, which started late last year, has continued into the first half of 2024 with demand consistently surpassing supply. According to Xeneta, volumes increased by 13% year over year in June, while capacity grew by only 3%, the slowest rate this year. This mismatch is pushing prices higher, and Xeneta’s chief air freight officer, Niall van der Wouw, cautioned that shippers should brace for even higher costs in the fourth quarter, with peak season surcharges expected by late August.