Dockworkers' union reaches tentative agreement, will suspend port strike until January

Published On Oct 3, 2024, 7:00 PM

The International Longshoremen’s Association, representing 45,000 dockworkers, has reached a tentative wage agreement with employers that includes a 62% wage increase over the next 90 days. Dockworkers will return to their jobs effective immediately, and all current job actions will cease. The Master Contract has been extended until January 15, 2025, for further negotiations on outstanding issues.

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The resolution of the dockworker strike should ease supply chain pressures, positively impacting logistics and shipping companies. Investors can look towards companies with heavy exposure to port operations.

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