Port strike ends. Major wage deal reached 👀

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Dockworkers Strike Ends with Major Wage Deal

After days of disruption, the US port strike on the East and Gulf coasts has come to an end, as dockworkers and their employers reached a tentative agreement on wages. The International Longshoremen’s Association (ILA) and the United States Maritime Alliance, representing ocean carriers and port operators, have agreed to a six-year wage increase of 62%, falling short of the union's original demand of a 77% raise. The agreement marks a resolution to the first strike by the ILA since 1977, which had halted operations at 14 major ports and threatened U.S. supply chains, impacting imports of fruits, automobiles, and various goods.

The tentative deal not only addresses wage concerns but also extends the existing contract until January 15, 2025. This extension allows the parties more time to resolve outstanding issues, including a critical demand from the union: a ban on port automation. During the strike, which lasted since early Tuesday morning, billions of dollars in goods were stranded offshore, and thousands of containers were misdirected to alternative ports. Shipping costs surged as a result of the halted operations.

The strike garnered widespread attention and pressure from both industry groups and politicians. While House Republicans and several business associations urged the White House to intervene due to concerns over economic fallout, President Biden stood firm in allowing the collective bargaining process to proceed without invoking the Taft-Hartley Act. This decision was praised by union leaders who had endured previous sacrifices to keep U.S. ports operational during the pandemic.

Although the strike has been called off and dockworkers are set to resume work, the effects of the disruption are expected to linger. Clearing the backlog of ships and restoring normal port operations may take several days. Nevertheless, the retail industry and other sectors breathed a collective sigh of relief, emphasizing that this resolution would allow the economy to continue its path toward growth without further disruption. See More

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Houthi Rebels Strike British Oil Tanker in Red Sea

On October 3, 2024, Yemen’s Houthi rebels launched an attack on the British oil tanker Cordelia Moon in the Red Sea, using an explosive-laden drone boat. The assault, which occurred around 110km off the Yemeni port of Hodeidah, caused significant damage to the ship's port side, engulfing it in thick smoke. Footage released by the Houthis captured the moment of the explosion, showing the vessel being severely impacted.

The Houthis claimed responsibility for the attack, stating it was part of a broader campaign targeting British and American ships in the region. They also mentioned using eight missiles and an uncrewed surface boat during the assault. The attack on Cordelia Moon was accompanied by a missile strike on a Liberia-flagged bulk carrier in the same vicinity. Despite the damage, both ships reported that their crews were safe.

This resurgence in attacks on commercial vessels comes amid heightened regional tensions, with the Houthis asserting that these operations are part of their naval blockade against Israel. The attack also follows threats made by the group after an American military drone was reportedly shot down over Yemen earlier in the week. See clip 

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