HK Exporters Continue to Suffer from US Port Lockout

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Last updated at: (Beijing Time) Friday, October 11, 2002

HK Exporters Continue to Suffer from US Port Lockout

Hong Kong exporters will continue to suffer from the US port lockout as buyers are expectedto renege on deals to get stock at knockdown prices, a senior shipping official said Thursday.

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Hong Kong exporters will continue to suffer from the US port lockout as buyers are expected to renege on deals to get stock at knockdown prices, a senior shipping official said Thursday.

Hong Kong Shippers Council Executive Director Sunny Ho said that despite a US court order to end a 10-day shutdown of 29 west coast ports, exporters were also worried about clearing a backlog of stock and the prospects for future new orders.

The Hong Kong government has set up a coordinating body to prevent port congestion.

The director said the lockout will certainly affect the numbers of new future orders because there will be uncertainty over whether they can deliver on time. There is a high possibility that a buyer will ask for a lower price because the supplier has not fulfilled the delivery dates stated in the contract, Ho added.

Ho said no matter how quickly workers in the U.S. unload the containers, it would take up to two months before operations return to normal as US dockers battle to clear the cargo backlog.

According to Ho, there is minimal backlog in Hong Kong but it would still take at least two weeks for shipping lines to resume normal operations here.

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