{"id":99923,"date":"2023-07-04T15:12:08","date_gmt":"2023-07-04T08:12:08","guid":{"rendered":"https:\/\/advantage.vn\/?p=99923"},"modified":"2023-07-24T15:12:24","modified_gmt":"2023-07-24T08:12:24","slug":"12-billion-in-trade-stranded-on-water-as-canadas-west-coast-labor-negotiations-hit-pause","status":"publish","type":"post","link":"https:\/\/advantage.vn\/en\/12-billion-in-trade-stranded-on-water-as-canadas-west-coast-labor-negotiations-hit-pause\/","title":{"rendered":"$12 billion in trade stranded on water as Canada\u2019s West Coast labor negotiations hit pause"},"content":{"rendered":"

After a fourth day of negotiations, the British Columbia Maritime Employers Association told CNBC that negotiations with the International Longshore & Warehouse Union Canada\u2019s Longshore Division are currently paused, pending further discussion with federal mediators.<\/strong><\/p>\n

\u201cThe BCMEA remains ready to come back to the table at a moment\u2019s notice, assuming that ILWU Canada is prepared to put forward a reasonable proposal. We are looking to reach a fair and balanced deal so ports can open and goods can start flowing as soon as possible.\u201d<\/p>\n

The BCMEA said on Monday that the ILWU Canada \u201cseems to have entrenched their positions,\u201d rather than working for an equitable deal.<\/p>\n

Canadian Labor Minister Seamus O\u2019Regan called for both parties to return to the table.<\/p>\n

\"Canada\u2019s<\/p>\n

The ILWU said in a statement the BCMEA \u201chas deliberately sabotaged\u201d the progress that was made on contracting out maintenance work.<\/p>\n

The ILWU Canada statement said the government gave a 7% increase in minimum wage recognizing the high cost of living.<\/p>\n

\u201cOne would look at the transportation industry where employers have made their fair share of profits in which their employees were able to share in similar increases in line with what the government has already recognized as reasonable,\u201d it said.<\/p>\n

As a result of the strike, Canada\u2019s western ports have not serviced any vessels since June 30. This is creating a backlog in trade with a total of 29 ports on Canada\u2019s West Coast at a standstill.<\/p>\n

Included in this labor strife are the ports of Vancouver and Prince Rupert which collectively process and move almost 20% of U.S. trade. Products ranging from critical auto parts like brakes are processed through those ports as well as additional auto and manufacturing parts, holiday items and consumer goods.<\/p>\n

According to vessel data aggregated by MarineTraffic, a total of 24 vessels are carrying containers for the Ports of Vancouver and Prince Rupert. The value of the combined 181,458 containers floating off the ports of Vancouver and Prince Rupert reached $12 billion, based on a $65,225 value per container, and Canadian customs data.<\/p>\n

\"canadaport<\/p>\n

This strike began on Saturday and also impacts the railroads which serve these closed ports. Three Class 1 railways operate at these ports: CN
\n, Canadian Pacific
\n, and BNSF, a subsidiary of Berkshire Hathaway.<\/p>\n

Logistics companies like ITS Logistics are moving additional trucking capacity to the railroad terminals of Chicago and Detroit to move out any containers ahead of the surge of containers that will follow once a deal is agreed upon and vessels can be unloaded.<\/p>\n

ILWU Canada said they hoped the BCMEA was not \u201chiding\u201d behind the threat of \u201cback to work legislation\u201d so they would not have to negotiate.<\/p>\n

When CNBC asked about the calls for government intervention, the labor minister\u2019s office said they are encouraging both sides to negotiate at the table in mediation.<\/p>\n

cnbc<\/p>\n

>> Other news:\u00a0<\/strong><\/span><\/p>\n