Dock strikes and shippers eyeing rate renegotiation add pressure on carriers
The threat of dock strikes at Felixstowe and Liverpool next month, together with the potential ...
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By Alex Lennane
The Teamsters union, which last week accepted a new five-year agreement covering 13,000 UPS Freight workers, increasing wages and strengthening pension benefits, has rejected to extend its contract with troubled YRC Worldwide. YRC has debts in the region of $1bn and this year has three significant debt payments to make. Filing for bankruptcy remains an option following the decision of 61% of YRC Teamsters to reject the extension until 2019 of a 15% wage reduction and 75% reduction in pension contributions.
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