🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Canadian port strike talks resume, supported by federal mediators

Published 07/09/2023, 11:22 AM
Updated 07/09/2023, 08:47 PM
© Reuters. FILE PHOTO: Shipping cranes lie idle after longshoremen with the International Longshore and Warehouse Union Canada (ILWU) went on strike at Canada's busiest port in Vancouver, British Columbia, Canada July 1, 2023.  REUTERS/Chris Helgren/File Photo

TORONTO (Reuters) - Talks in Pacific Canada between striking dock workers and their employers have resumed after four days away from the negotiation table, a statement on Saturday by the British Columbia Maritime Employers Association (BCMEA) showed.

The BCMEA and the International Longshore and Warehouse Union Canada (ILWU Canada) met on Saturday, supported by federal mediators, the statement said. The talks had stalled on Tuesday and the two sides broke off negotiations.

Some 7,500 port workers went on strike on July 1 for higher wages, upending operations at the Port of Vancouver and Port of Prince Rupert - key gateways for exporting the country's natural resources and commodities as well as for bringing in raw materials.

Canada's federal and provincial governments had urged the parties to restart talks, while on Saturday Alberta Premier Danielle Smith in a statement said her province supports an immediate recall of parliament to consider legislation to resolve the work stoppage.

BCMEA said it tabled a revised proposal to resolve skilled trades shortages and address ILWU Canada's demand to expand their jurisdiction over regular maintenance work on terminals, which was rejected by ILWU Canada.

ILWU Canada did not immediately reply to a request for comment. The union is due to hold a rally on Sunday in Vancouver.

© Reuters. Longshoremen with the International Longshore and Warehouse Union Canada (ILWU) hold a rally during their strike at Canada's busiest port of Vancouver, British Columbia, Canada, July 9, 2023.  REUTERS/Chris Helgren

The Canadian Manufacturers & Exporters (CM&E) industry body said the strike is disrupting C$500 million ($377 million) in trade every day. That could lead to supply-chain disruptions that fuel inflation, economists say.

($1 = 1.3271 Canadian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.