The strike by port workers on the U.S. East Coast has concluded following a tentative agreement between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX).
On October 1, it was reported that tens of thousands of dockworkers across the U.S. had initiated a strike, disrupting operations at 14 major ports along the East and Gulf coasts. The strike, led by the International Longshoremen's Association (ILA), was the first of its kind in nearly 50 years and came at a critical time, coinciding with the presidential election season and the approaching holiday shopping rush. On this day (October 1), it was speculated that the strike could disrupt a significant portion of U.S. trade—43% to 49% of all imports—amounting to approximately $34.3 billion.
Photo: Dreamstime.
The agreement between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) includes wage adjustments and an extension of the Master Contract until January 15, 2025.
Both parties are set to reconvene in January to address remaining issues. A joint statement announced that all current job actions are to be halted immediately, allowing operations covered by the Master Contract to resume.
This resolution comes as a significant development for port operations, particularly at the Port of Savannah, ensuring that the vital supply chain activities can continue without disruption.
Source: www.container-news.com