Contract negotiations between the International Longshoremen’s Association and the U.S. Maritime Alliance will resume on January 7th. The parties aim to avert a strike that could disrupt major U.S. East and Gulf Coast ports, which handle about half of the nation’s container volumes. A key sticking point remains the use of semi-automated machinery at port terminals. The ILA tentatively agreed to a 62% wage increase over six years in October, suspending a previous strike but leaving the automation dispute unresolved. The USMX argues that technology is essential for port competitiveness, while ILA President Harold Daggett opposes any automation, citing job threats. The current temporary extension expires on January 15.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Contract negotiations between the International Longshoremen's Association
00:05and the U.S. Maritime Alliance will resume on January 7th.
00:09The parties aim to avert a strike that could disrupt major U.S. East and Gulf Coast ports,
00:13which handle about half of the nation's container volumes.
00:16A key sticking point remains the use of semi-automated machinery at port terminals.
00:21The ILA tentatively agreed to a 62% wage increase over six years in October,
00:27suspending a previous strike but leaving the automation dispute unresolved.
00:31The USMX argues the technology is essential for port competitiveness,
00:35while ILA President Harold Daggett opposes any automation,
00:38citing job threats. The current temporary extension expires on January 15th.
00:43For all things money, visit Benzinga.com slash GSTV.