U.S. dockworkers are returning to work after a three-day strike at East and Gulf Coast ports, reports IndustryWeek, a sister publication to Chemical Processing. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) reached a tentative agreement on wages and extended the current contract until Jan. 15, 2025. The strike, involving 45,000 workers, had paralyzed 36 ports from Maine to Texas. While specific terms weren't disclosed, sources suggest a 62% salary increase over six years was proposed. This marks the first ILA walkout since 1977. President Biden praised the resolution, emphasizing the effectiveness of collective bargaining. The strike's end averts potential economic impacts, with Oxford Economics estimating weekly GDP losses of $4.5-7.5 billion if prolonged. The National Retail Federation urged swift finalization of the agreement, highlighting its importance for the U.S. economy.
In earlier coverage, Chemical Processing noted the strike would present substantial challenges. The movement of raw materials, chemicals and finished products through these ports would have caused production delays and shortages. According to the American Chemistry Council, about 138 million tons of chemicals were transported through the ports in the Gulf Coast, and about 31 million tons of chemicals were transported through the East Coast ports in 2022. These chemical shipments were worth over $100 billion.
