Employers ratify ‘fair and equitable’ ILA contract

United States Maritime Alliance says six-year pact “will ensure continued labor peace in our ports.”

Employers ratify ‘fair and equitable’ ILA contract

United States Maritime Alliance says six-year pact “will ensure continued labor peace in our ports.”

Employers ratify ‘fair and equitable’ ILA contract

United States Maritime Alliance says six-year pact “will ensure continued labor peace in our ports.”

 
Members of the United States Maritime Alliance Ltd. (USMX) voted Monday to ratify a new six‐year master contract with the International Longshoremen’s Association.
    USMX represents employers of ILA members along the U.S. East Coast and Gulf Coast and includes container carriers, marine terminal operators and port associations as members.
    The approval came five days after ILA members voted overwhelmingly to ratify the new contract.
    “We are pleased with the outcome of this USMX ratification of what we consider to be a fair and equitable contract benefiting not only our members, the BCOs and supply chain partners, but also for the ILA and their families,” said David F. Adam, chairman and chief executive officer of USMX. “Most importantly, it will allow us to continue moving and growing our cargo and will ensure continued labor peace in our ports.”
    Since 1977, USMX and its predecessor organizations have successfully negotiated 10 new contracts with the ILA without a coast‐wide work stoppage.
   The new master contract will take effect Oct. 1 and will run through Sept. 30, 2024.
The transpacific — sometimes stop, sometimes go — is currently the most unpredictable container trade. Carriers may be thanking President Trump right now, but they may come to rue the day if the trade conflict sees volumes disappear during crucial contract negotiations next year.
Navios Maritime Partners LP recorded a Q3 2018 net income of $10.5 million on revenues of $62.6 million, up from a net income of $9.2 million a year earlier on revenues of $60 million.
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