USX - West Coast port congestion and supply chain issues hang over retail sector

Abstract Aerial Art/DigitalVision via Getty Images Bank of America reports congestion at West Coast ports is back with a vengeance. Ships at anchor in the Los Angeles/Long Beach Bay waiting to dock and unload has climbed to 21 container ships from 12 before the 4th of July holiday in an indication that a return to a smooth supply chain could take longer than anticipated. In reaction, Union Pacific (UNP) has told customers it will halt all shipments of international containers from West Coast ports to its main Chicago intermodal terminal for up to a week to clear a backlog. UP noted the terminal is clogged given labor shortages and pandemic-related restrictions which slowed unloading and loading of containers at customer facilities. BofA's takeaway: "While we initially expected capacity tightness to persist through at least the summer, we see this tightness lasting through year-end, which is supportive to our stronger for

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West Coast port congestion and supply chain issues hang over retail sector