Reported 3 months ago
The US East and Gulf Coast ports reopened after dockworkers reached a wage agreement, ending a significant strike that lasted nearly 50 years. However, there are still over 54 container ships waiting to offload, which may take two to three weeks to resolve. The deal included a 62% wage increase for dockworkers, but the impact on shipping stocks was negative as the strike's end diminished expectations of freight rate surges. The strike had already disrupted supply chains, affecting major retailers like Walmart and IKEA.
Source: YAHOO