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- Barrons.com
Dockworkers Agree to End 3-Day Strike After New Wage Offer
U.S. dockworkers along the East Coast and in the Gulf of Mexico ended a three-day strike that closed major ports and stoked fears of supply chain disruptions. The agreement comes after port operators offered a 62% increase in wages the workers could receive over the next six years, The Wall Street Journal reported, citing people familiar with the matter. In a joint statement on Thursday, the International Longshoremen’s Association, which represents 47,000 workers that load and unload cargo containers, and United States Maritime Alliance, which represents the port operators, said they had reached a tentative agreement on wages and would extend the prior contract through Jan. 15, 2025.
- The Wall Street Journal
Asian Shipping Stocks Fall After U.S. Port Workers Suspend Strike
Shares of Asian shipping companies fell sharply after U.S. port workers suspended a three-day strike, dashing hopes for higher freight rates as a result of limited supply.
