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US West Coast in Multi-Billion Shutdown

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All 29 US West Coast ports were shutdown over the weekend in response to the ongoing contract dispute with dockworkers.

According to LA Weekly, the shutdowns could amount to a US$1bn-a-day loss in economic activity for the US.

The West Coast shutdown will also affect the busiest ports in the US; Los Angeles and Long Beach.

A full West Coast suspension of operations hasn't happened since 2002, when a 10-day shutdown cost an estimated $20 billion in lost revenue.

The ongoing International Longshore Workers Union slowdowns have created delays and backlogs up and down the West Coast, affecting crop growers in Washington and California, to businesses that are experiencing long delays in receiving goods, or manufacturers who have had to airlift parts.

In a statement, the Pacific Maritime Association said: “Vessel operations are scheduled to resume Monday.”

(Source: Hdrinc)

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