PMA and ILWU Reach Tentative Deal
One of the most consistent customers of the trucking industry are those that deliver their goods to the United States via boat, so the trucking industry has collectively breathed a sigh of relief when it was discovered that the Pacific Maritime Association (PMA) and International Longshore and Warehouse Union (ILWU) have reached an agreement that will speed up the flow of cargo.
Details
Remember the port backlog of 2021? Negotiations between these two organizations have caused a similar effect to the shipment of goods along the west coast. Though not to the same extent as with the port backlog two years prior, it was severe and long (over several months) enough that some companies decided it was faster and easier to just ship things to the eastern coast instead. This six-year agreement between the two of them should alleviate that.
The federal government became involved with the whole debacle when Secretary of Labor Julie Su traveled to San Francisco to become involved in mediating the negotiations.
“Thanks to the hard work and perseverance of the leadership of the ILWU and the PMA, the tentative agreement delivers important stability for workers, for employers and for our country’s supply chain. This important milestone is welcome news to all, and on behalf of President Biden, we are pleased to congratulate both parties on what they have achieved,” the office of Julie Su released in a statement.
In regards to Su’s work, Biden himself said that she “used her deep experience and judgment to keep the parties talking, working with them to reach an agreement after a long and sometimes acrimonious negotiation.”
Conclusion
The maritime shipment and trucking industries are closely woven together, as trucks will often handle the land delivery once cargo has reached the port in question. As such this tentative deal, which has not gone through yet but is fully expected to do so, is an indirect win for the trucking industry. Goods intended for customers on the western coast will now be able to reach their destinations much sooner as the global supply chain continues to heal.
ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short-term, we’re on the long-haul with you!
We have financing options for trailers, semi-trucks, commercial trucks, and small businesses. We have great rates, low down payments, and flexible monthly payments regardless of credit history.
Learn more about Trailer Financing.
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.
