Market Letters

06.15.23: Client Advisory – ILWU, PMA Reach Tentative Contract Agreement

At last…some encouraging news from the West Coast!

A tentative agreement on a new six-year contract, covering all 29 ports along the US West Coast, was announced late Wednesday night by the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU).

No details were released, and the agreement is still subject to ratification by both parties, which historically has taken at least one month.

Pending ratification, the deal would end 13 months of contentious negotiations marked by on-again, off-again job actions that disrupted port operations on the coast and diverted growing volumes of cargo to the East and Gulf coasts.

Should you need further information or have any concerns or queries, please contact your local Laufer customer service or sales representative.

Related News:

US SUPPLY-CHAIN THREAT DIMINISHES WITH WEST COAST PORT DEAL

WHITE HOUSE HAILS PROGRESS MADE IN US WEST COAST PORT CONTRACT NEGOTIATIONS

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