Economy

Panic buying reported amid dockworkers strike

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HAMPTON, Va. (WAVY) — Some people were panic buying in the Hampton Roads, Virginia, area the day U.S. dockworkers went on strike, which shut down ports on the East and Gulf coasts.

NewsNation affiliate WAVY viewers sent photos of long lines at a BJ’s Wholesale Club in Hampton where items like toilet paper were in short supply and of a Walmart in Yorktown, Virginia, where paper towels, water and other items were in low supply.


Longshoremen strike could cost US economy billions daily

While the strike is expected to significantly affect the global supply chain, things like toilet paper and paper towels are mostly produced in the U.S., so supplies of those items shouldn’t be impacted as much as imported products like electronics and car and machinery parts.

Experts say the grocery products that will be impacted the most include tropical fruit and bananas (about 75% of bananas in the U.S. enter through East Coast and Gulf Coast ports) and imported alcohol like beer. Wine from Europe and Caribbean spirits like rum could also be in short supply.

Experts warn of price increases for customers as companies may pass on the added costs associated with the snarled supply chain.

The line at a Hampton BJ’s Wholesale Club on Tuesday, Oct. 1, 2024 (Courtesy of WAVY viewer)

George Berry, a trucker in Hampton Roads who heads the For Truckers by Truckers advocacy group, told WAVY Tuesday morning that consumers should start preparing for the reduced supply.

“I want the community to start preparing,” Berry said. “I want them to go get essentials. Not, you don’t have to rush, panic buy, but I do want them to have essentials at their house. Toilet paper, paper towels, things of that nature.”


Longshoremen strike may affect prices on food, groceries

It’s unclear when a deal could be made between the International Longshoremen’s Association, the union representing about 45,000 port workers, and the United States Maritime Alliance, whose contract ended at midnight Monday.

However, workers like Rodrick Riddick, a longshoreman in Portsmouth, are hopeful the strike will bring better wages and employee benefits.

The union has demanded 77% pay raises over six years to help deal with inflation, along with a total ban on the automation of cranes, gates and container-moving trucks used in the loading or unloading of freight.

The strike is affecting 14 major ports on the East Coast and Gulf Coast, where more than 40% of total “containerized goods” enter the U.S. 

In Virginia, the strike has shut down these port locations:

Norfolk International Terminals

Virginia International Gateway

Newport News Marine Terminal

Pinners Point Container Yard

Portsmouth Chassis Yard

Reefer Service Area

The Damage Annex

The strike is expected to cost the U.S. economy up to $5 billion per day, experts say.