US East & Gulf Coast Port Strike Averted

Eleventh hour negotiations between the ILA and USMX appear to have averted the threat of a US Port strike, after a tentative agreement was reached this week.

The two parties entered talks on Tuesday, which were widely considered to be the final chance of avoiding a strike across 36 US East and Gulf Coast ports next week, and to much of the industry's surprise all outstanding items have been agreed for a new six-year master contract.

Port workers will temporarily continue using the current contract while the new agreement is ratified through a vote by ILA members, although this is expected to be a formality.

Workers downed tools for three days in October, but agreed to return to work until January 15th on the understanding that new contracts would be agreed by then. However, negotiations had constantly broken down since and carriers were steaming ahead with their preparations for a strike.

This week, the two parties issued a joint statement that said “We are pleased to announce that ILA and USMX have reached a tentative agreement on a new six-year ILA-USMX Master Contract, subject to ratification, thus averting any work stoppage on January 15, 2025”

Great news, to start the new year with, as a strike of this magnitude would have been devastating for ocean freight.

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