The B.C. port workers strike could cost companies hundreds of millions of dollars per week, experts and business groups say, with smaller operators and…
The hit could be even greater in this case, since West Coast cargo volumes are so much greater and thus tougher to reroute, he said.
British Columbia’s 30-plus ports — the Port of Vancouver is the country’s biggest — handle roughly 16 per cent of Canada’s total traded goods, according to the BC Maritime Employers Association. Beatty said $800 million worth of cargo passes through its terminals each day, from consumer products to auto parts and potash.Article content
“They may have contracts with their customers and they don’t have the ability to pass on increases,” he added. But for those that can, “it just adds to the potential inflationary effect.” “This will impact prices for consumers. Diverting to other ports is costly,” said Brian Kingston, CEO of the Canadian Vehicle Manufacturers’ Association. “The immediate impact is on the importing of finished vehicles.”
“Toys or furniture or clothing are … not going to lose their value if they’re not delivered tomorrow,” he said.
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