Agreement Reached As US Port Workers Return

Agreement has been reached for the US East and Gulf Coast port workers to return to work on Friday (October 4th), after a three-day walkout.

The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) reached an agreement yesterday, which put a halt to the potentially crippling port strike.

Both parties have come together after agreeing a 62% wage increase over the 6 year term of the workers contracts. However, there are outstanding issues that need to be resolved by January 15th, which includes pensions and automations, otherwise there could be further strike action.

Since Tuesday, 40,000 union members downed tools at 36 ports when their previous contracts expired. Port operations were effectively suspended from Maine in the Northeast to Texas in the South, leading to the biggest US dockworker strike since 1977.

Following the Biden administration coming down firmly on the side of the workers earlier this week, the USMX agreed to uplift their wage offer.

The team at Croft Cargo are expecting to see some congestion in the coming weeks and vessels will need to realign with their rotation schedules. However, the news that the strike is over for now is very good for the industry.

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