Connect with us

Hi, what are you looking for?

Stock

Maersk asks customers to remove cargo before potential strike at US ports

(Reuters) – Shipping giant AP Moller-Maersk has urged customers to pick up their laden containers and return the empty ones at the U.S. East and Gulf Coast ports before Jan. 15 to mitigate potential disruptions at the terminals on account of a strike.

“The conditional agreement on wages is set to expire on Jan. 15. If no agreement is reached by that date, a coast-wide strike on Jan. 16 is possible,” according to an advisory on Maersk’s website.

“The negotiations have had no new developments since our last communication,” it said.

A strike would halt billions in trade and raise inflationary pressures while threatening the existing supply chains.

The International Longshoremen’s Association (ILA), a union with more than 45,000 members, and the United States Maritime Alliance (USMX) in October had agreed to a wage deal of a 62% hike over six years, ending a three-day strike.

But a threat of another strike looms large if the parties fail to reach a consensus over the unresolved decisions related to automation and its future at U.S. ports.

According to a Bloomberg News report, talks over the issue of automation have not appeared to be advancing, and neither the ILA nor USMX have indicated plans to return to the negotiating table before mid-January.

This post appeared first on investing.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Editor's Pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com