HARDI News in 5: International Longshoremen's Association Port Strike Impact on HVAC Industry

Welcome to a new series by HARDI analyst, Jake Miller, called HARDI News in 5! These short videos will keep members up to date on important events and trends affecting the economy and HVACR industry.

In this episode, Jake dives into the looming impact of the 2024 port closures, breaking down the key issues and how they could affect various industries—particularly the HVAC industry. As the International Longshoremen's Association (ILA) negotiates a new contract with the U.S. Maritime Alliance (USMEX), there are significant concerns about labor disputes, wage increases, and the automation debate. He also explores how these negotiations, combined with the potential for a prolonged strike, could disrupt supply chains, especially for HVAC parts and equipment.

Learn about the key ports involved—like Houston, Newark, and Savannah—and the staggering $13 billion worth of HVAC products and parts processed annually through these locations. Jake also analyzes trade data trends and highlights why the HVAC industry, although slowing down towards the end of the year, could still face serious challenges from these closures.

Stay tuned for updates and an in-depth look at refrigerant shipments. With the uncertainty looming large, we will continue to provide timely insights on how these closures may unfold in the coming months.

Keep an eye out for more videos from the News in 5 series!

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