USMX Ratifies Contract with ILA
The U.S. Maritime Alliance (USMX) voted to ratify a six-year contract with the International Longshoremen's Association (ILA), said USMX in a press release. ILA already voted to ratify the contract (see 13041019). The Master Contract covers about 14,500 waterfront workers…
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belonging to the ILA. The contract includes three $1-an-hour wage increases over the life of the contract and guarantees that carriers will fund the annual container royalty payments at $211 million, the amount paid in 2011, plus up to an additional $14 million for administrative expenses, and share equally with the ILA any container royalties that exceed $225 million.