The new contract is expected to help the Los Angeles and Long Beach ports regain lost cargo business, which worried shippers rerouted to East and Gulf coast competitors.
a new six-year contract, bringing labor peace that experts said should help attract more business and jobs.after intervention from acting Labor Secretary Julie Su, came after nearly a year of contentious negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Assn., which represents the shipping lines and terminal operators that employ the dockworkers.at the ports of Los Angeles and Long Beach, which handle nearly 40% of the U.S.
Worried shippers shifted considerable business to competing ports on the U.S. East and Gulf coasts. With a ratified contract, those shipments could return to the West Coast, but it was unclear how long that might take.“There is every likelihood that some of that business will return” to Western U.S. ports, said international trade economist Jock O’Connell of Beacon Economics. “The big question is how much. We will have to wait a while to see.
Beginning last year, rival ports on the East and Gulf coasts made great strides in attracting more cargo, jobs and revenue, thanks in part to major infrastructure projects and worries over delays from potential work stoppages at West Coast ports. Los Angeles port Executive Director Gene Serokathat his port had lost about 15% of its cargo to other harbors because of the labor unrest since August 2022.
O’Connell said that the labor agreement ratification, which covers 29 West Coast ports, “ought to guarantee six years of harmony on the docks. It removes a significant irritant in the operation of U.S. West Coast ports and makes them more acceptable to shippers eager to move their cargo expeditiously.”
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