The UKs biggest container port faces strike action this month as staff vote for a walk out over pay.
Close to 2,000 workers have launched a formal strike from August 22nd - 29th, potentially creating trade and supply chain disruptions in the region.
48% of all containers brought into the UK are transported through the Felixstowe port, making it one of the busiest and important hubs in the country. It handles more than 4 million TEUs each year, pushing through around 2,000 ships annually.
The strike could disrupt more than $800 million in international trade which would have a significant impact on the UK’s supply chain and haulage sectors moving forward.
Members of the union were balloted and 92% of the votes cast were in favour of striking.
Since then, a revised increased pay offer of 7%, up from 5%, was made, but Unite continue to argue that considering inflation, the offer is effectively a pay cut. A port spokesperson said: "The company made what we believe to be a very fair offer and we are disappointed with the result of the ballot."
Source: Reuters / Bloomberg