June 9, 2014 -
The clock is ticking as the Pacific Maritime Association and the International Longshore and Warehouse Union negotiate a new contract with US West Coast ports.
The current contract is set to expire June 30.
Memories are still fresh from last year's protracted negotiations with East Coast ports as well as that of memories of the 2002 10-day strike that likely will hang over the negotiations.
That strike cost the US government $1bn a day and it took months to clear up the backlog.
However, that was 2002, it is now 2014 and times have changed - A global recession, increasing competition among Canadian and Mexican ports as well as those along the US East Coast and changing trade lanes.
Also, overcapacity has taken a toll on the industry.
Source: Transport Intelligence
Click here for BDP's Contingency Planning on Anticipating and Preparing for a West Coast Port Strike in 2014