The battle for inflation-indexed bonds to add to the transmission of European ports

Increased congestion in German and Dutch ports could delay the shipment of cars and furniture to the United States for several weeks, but the German Seaport Company Central Association (ZDS) and ver. The German trade union .di ended without agreement. The main problem is linking the wages of port workers to inflation.

Germany, Europe’s largest economy, is facing a surge in inflation as a result of Russia’s Ukrainian war, which has exacerbated food and energy inflation. This inflation is at the heart of the deadlock in negotiations. The union calls for annual automatic inflation adjustments incorporated into a new collective bargaining agreement for workers at 58 ports and terminals. The ZDS states that the offer is above inflation, but the union rejected the offer.

“The soaring costs of living, such as energy and food, are an unsustainable burden for German workers, especially low-wage workers,” said Maya Schwiegershausen-Güth, head of the maritime sector at ver.di. Said in a statement to the press. .. She added that employers, represented by the German Seaport Companies Central Association (ZDS), have so far rejected the principle of inflation protection in consultation with the union.

“These port companies plan to leave staff alone to deal with the consequences of rising prices. They are pleased that the wages of port workers are exhausted and set back by inflation. I’m watching. Employers and the public interest. “

On the ZDS website, Ulrike Riedel, ZDS negotiator, said: This includes a permanent wage increase of up to 8% dating back to January 6th. With this proposal, we exceed the very high inflation rate, well above what ver.di and other unions demand and have concluded in other current negotiations. “

During June during negotiations, the union conducted a shift warning strike and a 24-hour strike, blocking trade flows at several German ports.This deceleration Created a congested contagion Destroy containers destined for the United States and countries around the world to Dutch ports.

Andreas Lenz | Getty Images News | Getty Images

According to the German Trade and Economic Cooperation Bureau, automobiles and auto parts are the country’s largest export (15.4%). 2nd and 3rd place: Machinery (14.2%) and chemical products (10.0%).

In addition to these major exports, Ikea furniture and other household items will also be moved from these ports. Other products include lithium batteries for automobiles and chassis. Mercedes, BMWWhen Ford It is also listed on recent bills of lading.

Andreas Braun, director of marine products in Europe, the Middle East and Africa at Crane Worldwide Logistics, recently told CNBC, “US importers look four to five weeks ago to see if there are vessels available. You have to. This is not normal. If you are lucky enough to be able to reserve a slot for a ship, you need to find an empty container that may be in the hinterland (Germany or the Netherlands). “

CNBC has announced or not expected a strike this week, but there are concerns that future strikes may be announced, sources said. No new negotiations announced.

A ZDS negotiator said of the final offer to the union, “I can’t afford any more without jeopardizing the survival of the company. Given this offer, further escalation is completely unbalanced and I It will hurt not only us but Germany as a whole. There is an urgent need for mediation procedures. “

If the deadlock continues, arbitration may be called. This is a common dispute resolution procedure in Germany. In that case, the strike is excluded.

CNBC Supply Chain Heat MaThe p data provider is Everstream Analytics, an artificial intelligence and predictive analytics company. Creator of Freightos, Freightos Baltic Dry Index, a global freight booking platform. Logistics Provider OLUSA; Supply Chain Intelligence Platform FreightWaves; Supply Chain Platform BlumeGlobal; Third Party Logistics Provider OrientStarGroup; Marine Analysis Company MarineTraffic; Marine Vision Data Company Project44; Shipping Data Company MDSTransmodalUK; Marine and Air Cargo Benchmark Analysis Company Xeneta; Sea-Intelligence ApS, a leading provider of analytics; and Seko Logistics, an aviation, DHL Global Forwarding, and freight logistics provider.

The battle for inflation-indexed bonds to add to the transmission of European ports

Source link The battle for inflation-indexed bonds to add to the transmission of European ports

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