The Traderszone Network

Published in TZ Latest News 15 February, 2015 by The TZ Newswire Staff

U.S. port strike pushes up freight rates with ships held up offshore

A U.S. West Coast port strike is pushing up shipping freight rates as delays in offloading and taking on new cargo mean container ships are unavailable for new orders. Dozens of container ships are lying in wait off the large U.S. West Coast ports of Los Angeles, San Francisco and San Diego. Many of them have been waiting more than a week to enter port to unload or take on new cargoes, according to Thomson Reuters shipping data. Ports along the West Coast are near gridlock due to the months-long dispute between dockworkers and a group representing shippers and terminal operators.