American dock workers agreed to a new collective agreement on Thursday, thus ending a strike that began on Tuesday.
This is written by the Reuters news agency.
The agreement includes a salary increase of 62 percent over six years, a source with knowledge of the negotiations told Reuters.
In recent days, the strike has threatened to paralyze shipping to and from the US and potentially create gaps in the global supply chain.
The negotiations have been between the dock workers’ union ILA and the employers in the organization USMX. It is the pay package in particular that has been the biggest point of contention in the negotiations.
Thursday’s agreement is a provisional agreement which puts an end to the strike with immediate effect. The agreement runs until 15 January 2025.
In the meantime, the parties will return to the negotiating table to sort out the final details of the agreement. This is written by Reuters.
At least 45 container ships have been prevented from docking on the US east coast and the southern gulf coast during the strike.
The strike began on the night of Tuesday at 00:01 local time – Tuesday at 06:01 Danish time. It was the ILA’s first strike since 1977.
The US president, Joe Biden, has been on the side of the dock workers during the negotiations and has called on the employers to improve their offer.
Mikkel Emil Jensen, who is a senior analyst at Sydbank, estimated on Monday that the strike would cause freight rates to rise.
If it had continued, it could also have had an impact on Europe.
– It can spread like ripples in the water and push freight rates up. There will be quite significant increases, especially if the strike lasts for several days, Mikkel Emil Jensen told Ritzau on Monday.
/ritzau/
Source: www.kristeligt-dagblad.dk
