World News
US Port Strike Averted as ILA and USMX Reach Tentative Agreement
The risk of an imminent strike that could have shut down port activity across the US East and Gulf Coasts appears to have been averted.
The International Longshoremen's Association (ILA) and the employer group United States Maritime Alliance (USMX) have reached a tentative agreement on a new six-year master contract.
"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," they said in a joint statement on Wednesday.
The deal was reached after representatives of the ILA and USMX held negotiations over the past few days.
The details of the new tentative agreement will not be released to give ILA rank-and-file members and USMX members time to review and approve the final document, according to the joint statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 574.50 | 7.00 | 704.00 | 5.50 |
| Rotterdam | 535.50 | 3.50 | 678.00 | 4.50 |
| Houston | 570.50 | 3.00 | 712.00 | 6.50 |
| Fujairah | 568.00 | 6.00 | 755.50 | 0.50 |
| Global 20 Ports Average | 592.50 | 5.50 | 773.00 | 4.50 |
| Global 4 Ports Average | 562.00 | 3.50 | 712.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 6.50 | 813.50 | 0.50 |
Popular Now More
-
Jan 08Several major Chinese maritime firms including container line COSCO have been added to the Pentagon's blacklist list for alleged ties to the People's Liberation Army. -
Jan 09Nine candidates are standing for election, with two vacancies to fill. -
Jan 07The new company, Sea Leader DMCC, has already completed its first delivery.