Dock workers with the longshoremen’s union won’t go on strike at 15 East Coast and Gulf Coast ports on Sunday morning after all. On Friday, Dec. 28, their union agreed to a 30-day extension of the contract until Jan. 28.
The breakthrough came as both the union and the port operators announced they had reached a tentative agreement on the $15,000 “royalty” payments on cargo that the dock workers have been receiving on top of their $100,000-plus wages.
Employers have sought to cap those container royalty fees and limit who gets them. The union objected to those changes.
George H. Cohen, director of the Federal Mediation and Conciliation Service, a government agency, announced Friday that the International Longshoremen's Association and United States Maritime Alliance Ltd. had reached an agreement. However, neither side said what the agreement is.
A strike would have put thousands of truckers who haul container cargo out of work.
Some industry analysts contend a strike could cost $1 billion a day and that a lengthy strike could have a serious effect on the nation’s overall economy.
Copyright © OOIDA