Port Strikes Will Benefit My Industry, CEO Says

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The company benefitting from the strikes has more than 6,700 customers and 2.8 percent of the world's GDP flows through its distribution centers.

The CEO of a global real estate company has said his business will benefit from the port strikes, despite concerns over the risk of rising inflation and adverse effects on the U.S. election.Hamid Moghadam said that Prologis, one of the world's biggest warehousing companies, would see increase in 'demand for our product'.The Chairman and CEO said that disruption from the strikes will cause 'havoc' because modern supply chains are optimized and highly organized.

'Tens of thousands of longshoremen at East and Gulf Coast ports, stretching from Maine to Texas, have gone on strike in a pay dispute between the International Longshoremen's Association union and the United States Maritime Alliance .Newsweek has reached out to the ILA for comment.A similar strike occurred on the West coast for 14 days last year before it was resolved, causing a logjam of goods that badly affected businesses supply chains.

 

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