www.reuters.com Open in urlscan Pro
2600:9000:235a:a600:15:5a3e:9d40:93a1  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to main content

Exclusive news, data and analytics for financial market professionalsLearn more
aboutRefinitiv

 * World
   Browse World
    * Africa
    * Americas
    * Asia Pacific
    * China
    * Europe
    * India
    * Israel and Hamas at War
   
    * Japan
    * Middle East
    * Ukraine and Russia at War
    * United Kingdom
    * United States
    * Reuters NEXT

 * US Election
 * Business
   Browse Business
    * Aerospace & Defense
    * Autos & Transportation
    * Davos
    * Energy
    * Environment
    * Finance
    * Healthcare & Pharmaceuticals
   
    * Media & Telecom
    * Retail & Consumer
    * Future of Health
    * Future of Money
    * Take Five
    * World at Work

 * Markets
   Browse Markets
    * Asian Markets
    * Carbon Markets
    * Commodities
    * Currencies
    * Deals
    * Emerging Markets
    * ETFs
    * European Markets
   
    * Funds
    * Global Market Data
    * Rates & Bonds
    * Stocks
    * U.S. Markets
    * Wealth
    * Macro Matters

 * Sustainability
   Browse Sustainability
    * Boards, Policy & Regulation
    * Climate & Energy
    * Land Use & Biodiversity
    * Society & Equity
    * Sustainable Finance & Reporting
    * The Switch
    * Reuters Impact

 * Legal
   Browse Legal
    * Government
    * Legal Industry
    * Litigation
    * Transactional
    * US Supreme Court

 * Breakingviews
   Browse Breakingviews
    * Breakingviews Predictions

 * Technology
   Browse Technology
    * Artificial Intelligence
    * Cybersecurity
    * Space
    * Disrupted

 * More
   Investigations
   Sports
    * Athletics
    * Baseball
    * Basketball
    * Cricket
    * Cycling
    * Formula 1
    * Golf
    * NFL
    * NHL
    * Soccer
    * Tennis
   
   Science
   Lifestyle
   Graphics
   Pictures
   Wider Image
   Podcasts
   Fact Check
   Video
   Sponsored Content
    * Reuters Plus
    * Press Releases

My News

Sign InRegister

 * World at Work
 * Employee Benefits & Executive Compensation
 * Worker Rights
 * Employment


US PORT WORKERS AND OPERATORS REACH DEAL TO END EAST COAST STRIKE IMMEDIATELY

By Doyinsola Oladipo and David Shepardson
October 4, 20246:55 AM GMT+2Updated 2 days ago
Text
 * Small Text
 * Medium Text
 * Large Text

Share
 * X
 * Facebook
 * Linkedin
 * Email
 * Link

 * Summary
 * Companies

 * Tentative deal includes a 62% wage hike over six years - sources
 * Strike affected 36 ports, causing backlog of anchored ships
 * Biden applauds "critical progress towards a strong contract"

NEW YORK/WASHINGTON, Oct 3 (Reuters) - U.S. dock workers and port operators
reached a tentative deal that will immediately end a crippling three-day strike
that has shut down shipping on the U.S. East Coast and Gulf Coast, the two sides
said Thursday.
The tentative agreement is for a wage hike of around 62% over six years, two
sources familiar with the matter told Reuters, including a worker on the picket
line who heard the announcement. That would raise average wages to about $63 an
hour from $39 an hour over the life of the contract.
Advertisement · Scroll to continue

The International Longshoremen's Association (ILA) workers union had been
seeking a 77% raise while the employer group - United States Maritime Alliance
(USMX) - had previously raised its offer to a nearly 50% hike.
The deal ends the biggest work stoppage of its kind in nearly half a century,
which blocked unloading of container ships from Maine to Texas and threatened
shortages of everything from bananas to auto parts, triggering a backlog of
anchored ships outside major ports.
Advertisement · Scroll to continue

The union and the port operators said in a statement that they would extend
their master contract until Jan. 15, 2025 to return to the bargaining table to
negotiate all outstanding issues.
"Effective immediately, all current job actions will cease and all work covered
by the Master Contract will resume," the statement said.
Among key issues that remain unresolved is automation that workers say will lead
to job losses.

Union boss Harold Daggett said previously that employers such as container ship
operator Maersk (MAERSKb.CO), opens new tab and its APM Terminals North America
had not agreed to demands to stop port automation projects that threaten jobs.
U.S. President Joe Biden’s administration had sided with the union, putting
pressure on the port employers to raise their offer to secure a deal and citing
the shipping industry's bumper profits since the COVID-19 pandemic.

The tentative deal "represents critical progress towards a strong contract,"
Biden said on Thursday. "Collective bargaining works," he added.
His administration has repeatedly resisted calls from business trade groups and
Republican lawmakers to use federal powers to halt the strike - a move that
would undermine Democratic support among unions ahead of the Nov. 5 presidential
election.
The White House had been heavily involved in talks to get a deal, sources said.
Item 1 of 4 Containers are stacked at the Portsmouth Marine Terminal (PMT), as
port workers from the International Longshoremen's Association (ILA) participate
in a strike, in Portsmouth, Virginia, U.S., October 2, 2024. REUTERS/Jose Luis
Gonzalez
[1/4]Containers are stacked at the Portsmouth Marine Terminal (PMT), as port
workers from the International Longshoremen's Association (ILA) participate in a
strike, in Portsmouth, Virginia, U.S., October 2, 2024. REUTERS/Jose Luis
Gonzalez Purchase Licensing Rights, opens new tab

After days of talks, White House Chief of Staff Jeff Zients convened a 5:30 a.m.
(0930 GMT) virtual meeting on Thursday with the CEOs of ocean carriers and
impressed upon them the need to reopen the ports to speed hurricane recovery
efforts, according to a source briefed on the events.
The port strike hit just as southeastern states were struggling for supplies
following a deadly hurricane.
Top White House economic adviser Lael Brainard told the carriers at the meeting
they needed a new offer to end the strike, and asked them to put a new offer on
the table. By midday the shippers had agreed to make a new higher offer.
Acting Secretary of Labor Julie Su told the carriers they could get the union to
the table and leaders would agree to extend the contract, if the new offer was
higher. She was in New Jersey to meet with union leaders to secure their
agreement, the sources said.


'GOOD NEWS'

The ILA launched the strike by 45,000 port workers, its first major work
stoppage since 1977, on Tuesday after talks for a new six-year contract broke
down.
At least 45 container vessels that have been unable to unload were anchored
outside the strike-hit East Coast and Gulf Coast ports by Wednesday, up from
just three before the strike began on Sunday, according to Everstream Analytics.
JP Morgan analysts have said the strike would cost the U.S. economy around $5
billion per day.
The strike affected 36 ports - including New York, Baltimore and Houston - that
handle a range of containerized goods.
"The decision to end the current strike and allow the East and Gulf coast ports
to reopen is good news for the nation’s economy, National Retail Federation said
in a statement. "The sooner they reach a (final) deal, the better for all
American families."
National Association of Manufacturers CEO Jay Timmons said "cooler heads have
prevailed and the ports will reopen" and called it "a victory for all parties
involved - preserving jobs, safeguarding supply chains and preventing further
economic disruptions."
Economists have said the port closures would not initially raise consumer prices
because companies had accelerated shipments in recent months of key goods.
However, a prolonged stoppage would have eventually filtered through, with food
prices likely to react first, according to Morgan Stanley economists.

The Reuters Daily Briefing newsletter provides all the news you need to start
your day. Sign up here.

Reporting by Doyinsola Oladipo; Additional reporting by David Shepardson in
Washington; Writing by Richard Valdmanis and Peter Henderson; Editing by
Jonathan Oatis, Sayantani Ghosh and Sonali Paul

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Share
 * X
 * Facebook
 * Linkedin
 * Email
 * Link

Purchase Licensing Rights


READ NEXT

 * World at WorkcategoryUS port strike throws spotlight on big union foe:
   automation
 * World at WorkcategoryBoeing, striking union to return to negotiations on
   Monday
 * Sustainable Finance & ReportingcategoryStellantis sues UAW in US federal
   court over strike threats
 * World at WorkcategoryBNSF Railway ratifies 5-year agreement with SMART-MD
 * World at WorkcategoryUS port strike ends, leaving cargo backlog
 * US Supreme CourtcategoryUS Supreme Court to decide if white, straight workers
   face higher bar in bias lawsuits




WORLD


 * HEAVY STRIKES SHAKE BEIRUT AS ISRAEL EXPANDS LEBANON CAMPAIGN
   
   Middle Eastcategory · October 6, 2024 · 3:13 AM GMT+2 · 15 min ago
   
   The strikes came after days of bombing by Israel of Beirut suburbs considered
   strongholds for Hezbollah.

 * Asia PacificcategoryNew Zealand Navy ship sinks off Samoa, all 75 onboard
   safe3:05 AM GMT+2 · Updated 24 min ago
 * Middle EastcategoryThousands around the world protest Middle East war as Oct
   7 anniversary nears2:52 AM GMT+2 · Updated 37 min ago
 * United StatescategoryTrump appears before large crowd at site of
   assassination attempt in Pennsylvania2:43 AM GMT+2 · Updated an hour ago
 * Middle EastcategoryAt least five killed in Israeli air strike on Gaza
   mosque2:23 AM GMT+2




SITE INDEX


LATEST

 * Home
 * Authors
 * Topic Sitemap
 * Archive
 * Article Sitemap


BROWSE

 * World
 * Business
 * Markets
 * Sustainability
 * Legal
 * Breakingviews
 * Technology
 * Investigations
 * Sports
 * Science
 * Lifestyle


MEDIA

 * 
   Videos
 * 
   Pictures
 * 
   Graphics
 * 
   Podcasts


ABOUT REUTERS

 * About Reuters, opens new tab
 * Careers, opens new tab
 * Reuters News Agency, opens new tab
 * Brand Attribution Guidelines, opens new tab
 * Reuters Leadership, opens new tab
 * Reuters Fact Check
 * Reuters Diversity Report, opens new tab


STAY INFORMED

 * Download the App (iOS), opens new tab
 * Download the App (Android), opens new tab
 * Newsletters


INFORMATION YOU CAN TRUST

Reuters, the news and media division of Thomson Reuters, is the world’s largest
multimedia news provider, reaching billions of people worldwide every day.
Reuters provides business, financial, national and international news to
professionals via desktop terminals, the world's media organizations, industry
events and directly to consumers.


FOLLOW US

 * X
 * Facebook
 * Instagram
 * Youtube
 * Linkedin


THOMSON REUTERS PRODUCTS

 * WESTLAW, OPENS NEW TAB
   
   BUILD THE STRONGEST ARGUMENT RELYING ON AUTHORITATIVE CONTENT,
   ATTORNEY-EDITOR EXPERTISE, AND INDUSTRY DEFINING TECHNOLOGY.

 * ONESOURCE, OPENS NEW TAB
   
   THE MOST COMPREHENSIVE SOLUTION TO MANAGE ALL YOUR COMPLEX AND EVER-EXPANDING
   TAX AND COMPLIANCE NEEDS.

 * CHECKPOINT, OPENS NEW TAB
   
   THE INDUSTRY LEADER FOR ONLINE INFORMATION FOR TAX, ACCOUNTING AND FINANCE
   PROFESSIONALS.


LSEG PRODUCTS

 * WORKSPACE, OPENS NEW TAB
   
   ACCESS UNMATCHED FINANCIAL DATA, NEWS AND CONTENT IN A HIGHLY-CUSTOMISED
   WORKFLOW EXPERIENCE ON DESKTOP, WEB AND MOBILE.

 * DATA CATALOGUE, OPENS NEW TAB
   
   BROWSE AN UNRIVALLED PORTFOLIO OF REAL-TIME AND HISTORICAL MARKET DATA AND
   INSIGHTS FROM WORLDWIDE SOURCES AND EXPERTS.

 * WORLD-CHECK, OPENS NEW TAB
   
   SCREEN FOR HEIGHTENED RISK INDIVIDUAL AND ENTITIES GLOBALLY TO HELP UNCOVER
   HIDDEN RISKS IN BUSINESS RELATIONSHIPS AND HUMAN NETWORKS.

 * Advertise With Us, opens new tab
 * Advertising Guidelines
 * Purchase Licensing Rights, opens new tab

 * Cookies, opens new tab
 * Terms of Use
 * Privacy, opens new tab
 * Digital Accessibility, opens new tab
 * Corrections
 * Site Feedback, opens new tab

All quotes delayed a minimum of 15 minutes. See here for a complete list of
exchanges and delays.

© 2024 Reuters. All rights reserved






RIGHT TO WITHDRAW CONSENT UNDER GDPR

We and our 157 partners store and/or access information on a device, such as
unique IDs in cookies to process personal data. You may accept or manage your
choices by clicking below, including your right to object where legitimate
interest is used, or at any time in the privacy policy page. These choices will
be signaled to our partners and will not affect browsing data.Cookie
PolicyPrivacy Statement


WE AND OUR PARTNERS PROCESS DATA TO PROVIDE:

Use precise geolocation data. Actively scan device characteristics for
identification. Store and/or access information on a device. Personalised
advertising and content, advertising and content measurement, audience research
and services development. List of Partners (vendors)

Allow All Reject All Show Purposes


Feedback