Tag is: The Strike (film)

Boeing Offers 30% to Strikers

by the Logistics TransportIn the Category: Logistics

Boeing (BA.N) announced in a statement that it has increased its overall wage offer to the union representing striking workers on the west coast of the United States to 30 percent.

More than 30,000 workers, represented by the International Association of Engineers and Aeronautical Workers (IAM), went on strike on September 13. The workers' strike decision came after Boeing declined a 25 percent wage increase over a four-year period.

Boeing Chief Financial Officer Brian West said in a message to employees that the strikers were working in good faith to agree on a new contract.

"This strike significantly jeopardizes our recovery and we must take the necessary steps to protect cash and secure our common future," West said.

Crisis in global supply chains is at the door! Port workers go on strike

by the Logistics TransportIn the Category: Logistics

In India, port workers' unions have called for a major nationwide strike, demanding wage revisions and an immediate settlement of pension rights from August 28.

The strike, which involves around 20,000 workers, could further deepen the current intensity problems in Asian and European ports, negatively impacting global trade and logistics processes.

WORKERS STAGED FOR Wage AND RETIREMENT RIGHTS

The decision to strike at a meeting at the port of Thoothukudi in India's southern Tamil Nadu state came after workers failed to respond to long-awaited demands for wages and pensions.

While the bilateral wage negotiation committee established in March 2021 could not reach any solution to the demands of the workers, the previous agreement expired in December 2021.

GLOBAL TRADE IS AT DANGER

The strike threatens India's major ports, such as Chennai, Cochin and Mumbai, with an annual payload of 1.62 billion metric tons. In addition, India's exports of $437 billion and imports of $677 billion in the 2024 fiscal year increase the possible effects of this strike on global trade.

Government and port administrations are expected to consider workers' demands for salary scales, accumulated payments and protection of their current rights to prevent strikes.

Threat of strike at US ports raises cargo backup concerns

by the Logistics TransportIn the Category: Logistics

According to transport industry experts, the upcoming strike at key U.S. ports on the East Coast and Gulf of Mexico is alarming about potential cargo delays that could take weeks or months. Retail giants such as Walmart (NYSE:WMT) are among the importers that are accelerating their shipments, waiting for the September 30 deadline, when about 45,000 dockworkers could leave work.

The International Port Workers' Association, which represents these workers, has stated that it is ready to go on strike from October 1 if negotiations for a new contract fail. Analysts at Sea-Intelligence, a Copenhagen-based maritime consulting firm, warned that even a one-day strike could create a pile-up that would take four to six days to clear up. According to Sea-Intelligence CEO Alan Murphy, a week-long strike in early October could cause disruptions to continue until mid-November.

Murphy also said a two-week strike could disrupt port operations by 2025. This assessment is supported by maritime giant A.P. Moller-Maersk. A.P. Moller-Maersk noted that a one-week pause may require up to six weeks for recovery, and delays have the potential to increase every day the strike continues.

The urgency of transporting goods ahead of the strike led to a sharp increase in transport costs. Peter Sand, Xeneta ⁇ 's chief analyst, reported that the spot market price for a 40-foot container from the Far East to the East Coast of the USA rose above $10,000 in early July and rose significantly from around $2,100 in early April. Sand stressed that the risk of port strikes requires transporters to act early and decisively.

However, as the expiration date of the contract approaches, the opportunity for preventive shipments also decreases. In addition, shipping deviations caused by Houthi attacks in the Red Sea extended shipping times from Asian factories to East and Gulf Coast ports by 45 days or more. Considering this situation, Sand warned that sending cargo next week could be in vain, as goods could be stranded at sea if the strike takes place.

Reuters contributed to this article.

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