Americas News
U.S. Ports Strike Ends
The eight-day strike at the Ports of Los Angeles and Long Beach that kept billions of dollars in cargo from moving into the U.S. has ended, according to reports in U.S. media.
"I'm really pleased to tell all of you that my 10,000 longshore workers in the ports of LA and Long Beach are going to start moving cargo on these ships," said Ray Familathe, vice president of the International Longshore and Warehouse Union, according to an Associated Press story.
"We're going to get cargo moved throughout the supply chain and the country."
The strike, which concerned the possible outsourcing of clerical jobs at the port, ended after federal mediators began working with the two sides late Tuesday.
The two ports handle about 44 percent of all cargo that arrives in the U.S. by sea, totaling about $1 billion a day.
During the strike, 10 of the ports' 14 terminals were closed, keeping about $760 million of cargo a day from being delivered, with some of the products being diverted to other West Coast ports and others stacking up on docks and rail yards.
Some reports have put the cost of the strike at $8 billion, but Los Angeles Times columnist Michael Hiltzik suggests that number reflects a misunderstanding based on the total value of cargo moving through the port, and that the actual cost may be about $540 million.
Some U.S. bunker suppliers said earlier this week that the strike had "killed" demand for IFO at the ports.
