With the ILA’s potential strike looming on October 1st, shipping spot rates are dropping for East Coast ports. The union plans to halt operations after their contract expires on September 30th, pushing for higher wages, better pensions, and opposing port automation.
ILA Doubling Down On Threats
Tensions are mounting as the International Longshoremen’s Association (ILA) threatens a strike on October 1st over unresolved negotiations with the United States Maritime Alliance (USMX). The ILA is demanding a 32% wage hike, higher pensions, and is pushing back against port automation. With talks at a standstill since June, the risk of disruption looms large.
Growing Singapore Port Congestion
Various international shipping circumstances have recently caused global backlogs across ports, with the Singapore port being an epicenter.