East Coast port strike: Truckers, rails scramble to move billions in cargo before ILA union midnight shutdown

Trucking companies and freight rail operators are scrambling to move billions in trade that has been arriving at the 14 ports where the largest longshoremen's union in North America is planning to strike after midnight Monday if a new contract is not reached with ports management.

For the week ended last Friday , nearly $14 billion in trade arrived at these ports, including New York / New Jersey , Baltimore , Norfolk , Virginia , Savannah , Georgia , Miami , New Orleans and Houston .

"Time isn't on the side of importers," a logistics CEO tells CNBC .

Port Authority of New York/ New Jersey says it is coordinating with partners across the supply chain to prepare for any potential impacts.

Analysts have been warning ocean spot rates could increase by 20%-50% .

A strike could threaten the recent gains in bringing down inflation and the prices paid by consumers.

Business groups have urged the Biden administration to step in.

Shippers should not be lulled into a false sense of security during the strike, Brashier says.

"Just like during Covid , the breakdown in the supply chain did not occur until after operations resumed after shut down," he says.

Georgia Ports Authority recommends import delivery "well before October 1 to minimize any disruptions".