The economic impact of the BC port strike is starting to be felt in neighbouring provinces as business and government officials urge the Feds to order longshoremen back to work..On Wednesday the Greater Vancouver Board of Trade (GVBT) launched a live ‘port shutdown calculator’ on its website that was approaching $10 billion in disrupted trade since the labour dispute started.. Port Strike lossesPort strike losses are nearing $10 billion. .Saskatoon-based Nutrien — the largest fertilizer manufacturer in the world — became the latest to announce that it is curtailing production at its Cory potash mine due to the loss of export capacity at Canpotex’s Neptune terminal in Vancouver..And now the strike is expected to hit the company’s bottom line..In a statement, it said its full-year earnings would fall below the bottom end of its previous guidance range due to factors impacting offshore sales.”.Nutrien CEO Ken Seitz called for a quick end to the strike, which started when 7,500 members of the International Longshore and Warehouse union walked off the job on July 1..By some estimates, each day of lost exports takes about five days for the supply chain to recover..“The disruption at the Port of Vancouver has resulted in the curtailment of production at our Cory potash mine and if prolonged could also impact production at our other potash mines in Saskatchewan," said Seitz. "We urge the parties in this dispute to come to a swift resolution to prevent further damage to the Canadian economy.” .Speaking at the Council of the Federation premiers meeting in Winnipeg, both Alberta’s Danielle Smith and Saskatchewan’s Scott Moe called on the federal government to intervene..“Today, it might be easier for you to get a tonne of Russian potash fertilizer than it is to get a tonne of Saskatchewan potash fertilizer,” Moe said..Alberta Premier Danielle Smith said the federal government should have dealt with the BC port strike with more urgency.."It's an enormous problem. And I wished it would have been dealt with a slightly more urgency but I hope we all recognize that there is an urgency now," said Smith..On Wednesday, Federal Labour Minister Seamus O'Regan said he has given a federal mediator 24 hours to send him recommended terms to end the strike. Both sides will have to decide whether to accept it later on Thursday.."We are pleased with Minister O'Regan's announcement, as he has acknowledged that the strike is causing significant economic damage and that it cannot continue," said Bridgitte Anderson, GVBT president. "Every hour our ports remain closed fuels inflation and raises prices for consumers and businesses."."While we hold some hope a deal can be reached, the reality is that if either party opts out, we will have added $1.6 billion to the trade disrupted and be back in the same place," Anderson continued. "We are calling on the federal government and opposition parties to be ready to pass back-to-work legislation if mediation is unsuccessful.".The ongoing disruption is impacting various industries nationwide, including manufacturing, retail, agriculture, critical minerals, automotive dealers and energy. Businesses could experience further delays in receiving essential raw materials, components, and finished products. .The GVBT said the impacts would extend beyond jobs directly tied to BC ports and affect thousands of workers in transportation and logistics roles, as well as those working in supporting industries..The governments of Ontario, Alberta, and Saskatchewan have acknowledged the significant impact on their economies and called for the reopening of the ports..As Canada's largest gateway, approximately 25% of the country’s total traded goods flow through West Coast ports. .“Supply chain instability in recent years has been a major hurdle for Canadian businesses, which was only just beginning to improve prior to the start of this labour disruption,” Anderson said. “The ongoing disruptions not only jeopardize Canada's international reputation as a reliable trade partner but also threaten long-lasting damage for years to come.”
The economic impact of the BC port strike is starting to be felt in neighbouring provinces as business and government officials urge the Feds to order longshoremen back to work..On Wednesday the Greater Vancouver Board of Trade (GVBT) launched a live ‘port shutdown calculator’ on its website that was approaching $10 billion in disrupted trade since the labour dispute started.. Port Strike lossesPort strike losses are nearing $10 billion. .Saskatoon-based Nutrien — the largest fertilizer manufacturer in the world — became the latest to announce that it is curtailing production at its Cory potash mine due to the loss of export capacity at Canpotex’s Neptune terminal in Vancouver..And now the strike is expected to hit the company’s bottom line..In a statement, it said its full-year earnings would fall below the bottom end of its previous guidance range due to factors impacting offshore sales.”.Nutrien CEO Ken Seitz called for a quick end to the strike, which started when 7,500 members of the International Longshore and Warehouse union walked off the job on July 1..By some estimates, each day of lost exports takes about five days for the supply chain to recover..“The disruption at the Port of Vancouver has resulted in the curtailment of production at our Cory potash mine and if prolonged could also impact production at our other potash mines in Saskatchewan," said Seitz. "We urge the parties in this dispute to come to a swift resolution to prevent further damage to the Canadian economy.” .Speaking at the Council of the Federation premiers meeting in Winnipeg, both Alberta’s Danielle Smith and Saskatchewan’s Scott Moe called on the federal government to intervene..“Today, it might be easier for you to get a tonne of Russian potash fertilizer than it is to get a tonne of Saskatchewan potash fertilizer,” Moe said..Alberta Premier Danielle Smith said the federal government should have dealt with the BC port strike with more urgency.."It's an enormous problem. And I wished it would have been dealt with a slightly more urgency but I hope we all recognize that there is an urgency now," said Smith..On Wednesday, Federal Labour Minister Seamus O'Regan said he has given a federal mediator 24 hours to send him recommended terms to end the strike. Both sides will have to decide whether to accept it later on Thursday.."We are pleased with Minister O'Regan's announcement, as he has acknowledged that the strike is causing significant economic damage and that it cannot continue," said Bridgitte Anderson, GVBT president. "Every hour our ports remain closed fuels inflation and raises prices for consumers and businesses."."While we hold some hope a deal can be reached, the reality is that if either party opts out, we will have added $1.6 billion to the trade disrupted and be back in the same place," Anderson continued. "We are calling on the federal government and opposition parties to be ready to pass back-to-work legislation if mediation is unsuccessful.".The ongoing disruption is impacting various industries nationwide, including manufacturing, retail, agriculture, critical minerals, automotive dealers and energy. Businesses could experience further delays in receiving essential raw materials, components, and finished products. .The GVBT said the impacts would extend beyond jobs directly tied to BC ports and affect thousands of workers in transportation and logistics roles, as well as those working in supporting industries..The governments of Ontario, Alberta, and Saskatchewan have acknowledged the significant impact on their economies and called for the reopening of the ports..As Canada's largest gateway, approximately 25% of the country’s total traded goods flow through West Coast ports. .“Supply chain instability in recent years has been a major hurdle for Canadian businesses, which was only just beginning to improve prior to the start of this labour disruption,” Anderson said. “The ongoing disruptions not only jeopardize Canada's international reputation as a reliable trade partner but also threaten long-lasting damage for years to come.”
