Ocean Shipping
The strike has been costing an estimated $379m per day since workers walked out on Saturday 1st July. This followed a long bitter dispute over pay and automation, which had left the workforce out of contract since March.
However, it is now being reported that the union (ILWU) and employers have both agreed a compromise that was put forward by a federal mediator. This is yet to be ratified by the union's members, but that is expected to be a formality.
The Port of Vancouver has advised that some operations are now ready to resume, which quickly followed both parties confirming their acceptance of the four-year labour deal.
The news that port operations are expected to get under way again will be welcomed by carriers, forwarders, importers and exporters. However, there is expected to be a significant backlog, so it could be some time before business in the region returns to normal.
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