Felixstowe strike may affect $1bn trade
Almost 2,00 workers at the U.K.’s largest container port are striking again from today in a dispute over pay.
The economic value of all imports into Felixstowe that could be disrupted by the latest strike action in the lead up to Christmas as workers gear up for renewed industrial action from 27 September to 5 October 202 would amount to £532 million ($574 million), according to ALPS Marine analysis by Russell Group, a data and analytics company.
Goods exported from Felixstowe would be £415 million ($448 million) bringing the combined import/export flow of trade through the port to £947 million ($1 billion), the report said.
"There are fears that the stoppage could result in serious disruption in the run up to the festive season, which also includes Halloween and Black Friday. Russell's analysis reports that clothing worth an estimated £72 million and toys and video game consoles with a combined economic value of £29.5 million are scheduled to be imported into Felixstowe during the 27 September - 5 October period," says the report.
Almost 2,00 workers at the U.K.'s largest container port are striking again from today in a dispute over pay.
"A strike at Felixstowe in August led to vessel diversions to other U.K. and European ports," says Suki Basi, Managing Director, Russell Group. "One month on, we anticipate something similar happening as renewed strike action looks set to disrupt retailers and businesses waiting for vital imports at one of the busiest periods for the UK economy.
"Businesses can't predict when strikes are going to happen but when it does occur they can predict the probable impact on their supply chain through the use of increasingly sophisticated forward looking connected trade flow analysis. This would help them to make alternative arrangements that ultimately protect business continuity and even viability."