Significant disruptions at the Swedish port of Gothenburg look likely as a result of strike action by dockworkers. Port operator APM Terminals, owned by Maersk, will potentially stage lockouts from May 19 through June 30 with “limited daytime operations”. The disagreement centers on collective bargaining rules and has been ongoing since at least January 2016..
While less widespread than the Spanish dockworkers strike, which affects several ports as outlined in Panjiva research of May 18, there could still be significant disruptions to Swedish exports. Panjiva data shows that earlier strikes in January led U.S.-bound shipments to fall 32.2% on a year earlier. While action in March was averted at the last minute exports still dropped 58.2%.
Source: Panjiva
Panjiva analysis of over 140 consignee-carrier pairs shows that Grimaldi is the most exposed shipping line. The most exposed U.S. consignees to the port are specialty steelmaker Ovako, Volvo Cars and Volvo Trucks. Baked products manufacturer Lantmannen may be particularly exposed to shipping delays. The largest exposure aside of Grimaldi is Ikea’s shipping with Hapag-Lloyd. Outside of containerized freight there are also significant commodity shippers exposed including miner Glencore, refiner Philipps66 and forestry products handled Outokumpu.
Source: Panjiva