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USMX represents the major shipping lines, as well as terminal operators and port authorities. ... However, there are estimates. A one-week strike would cost the US economy about $2.1 billion ...
Longshoremen are on strike, shutting down East, Gulf ports. Economic losses of $5 billion per day can mean shortages, inflation and layoffs.
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.
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.
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.
Shipping costs have historically been calculated on the basis of gross weight in kilograms or pounds.By charging only by weight, lightweight, low density packages become unprofitable for freight carriers due to the amount of space they take up in the truck/aircraft/ship in proportion to their actual weight.
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