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Tentative Agreement Reported in U.S. East Coast Labor Contract Negotiations

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The Federal Mediation and Conciliation Service in the U.S. announced that a tentative agreement has been reached between the U.S. Maritime Alliance, representing all major U.S. east coast ports, and the International Longshoreman’s Association regarding a comprehensive Master Agreement. According to an FCMS statement: “The tentative agreement is subject to the ratification procedures of both parties as well as to agreements being achieved in a number of local union negotiations. These local negotiations are ongoing and will continue without any interruption to any port operation.” Readers will recall that previous negotiations extended to the final existing contract deadline which was at the end of December 2012, and an extension of that past agreement to February 6 of this year was adopted by both parties. That development caused a huge sign of relieve among the global supply chain community. A labor strike would have impacted over 90 percent of containerized shipments […]