Port strike Financial News

port dispute, including a commitment by employers to train workers to perform maintenance on new equipment.Contracting out of maintenance work to third parties had been one of the most contentious issues during the months-long dispute between the International Longshore and Warehouse Union Canada and the BC Maritime Employers Association.The four-year agreement also contains several terms about workers’ compensation.They include increases in the “Modernization and Mechanization retirement lump sum,” bringing that payout to $96,250 in 2026 for eligible retirees, over and above normal pension entitlements.The union representing about 7,400 workers said last Friday its members voted almost 75 per cent in favour of ratifying the new deal, ending a dispute that included a 13-day strike and halted movement of cargo worth billions.The deal features general wage increases of five per cent annually for the next two years, and four per cent for the two years after that.Those raises will boost hourly wages to a base rate of $57.51 by 2026.The new terms commit employers to “provide appropriate training to Journeyman Tradesperson … on how to perform regular maintenance work (within) the scope of their trade on new equipment and existing equipment.”

B.C.

The union representing roughly 7,400 British Columbia port workers issued a 72-hour strike notice Wednesday, hours after the federal labour minister deemed its impromptu strike “illegal.”

British Columbia’s port workers are back on the picket lines.

There may be movement towards an end to the bitter labour dispute that has shut down B.C.’s ports.

A strike among B.C. cargo loaders at some of Canada’s biggest ports might push prices higher for consumers across the country if the work stoppage stretches much longer, experts say.

While some Canadians were lighting off fireworks and relaxing with friends over the Canada Day long weekend, longshoremen staffing some of the busiest ports in British Columbia were taking to the picket lines.