{"id":73023,"date":"2023-08-24T00:00:00","date_gmt":"2023-08-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/24\/ups-strike-officially-averted-more-activity-on-the-north-sea-route\/"},"modified":"2023-08-24T00:00:00","modified_gmt":"2023-08-24T00:00:00","slug":"ups-strike-officially-averted-more-activity-on-the-north-sea-route","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/24\/ups-strike-officially-averted-more-activity-on-the-north-sea-route\/","title":{"rendered":"UPS strike officially averted + More activity on the North Sea route"},"content":{"rendered":"

UPS workers approve new labor terms: <\/strong> The US Teamsters union \u2014 representing about 340k workers at parcel delivery giant UPS \u2014 voted overwhelmingly to ratify a new labor agreement that includes big hikes to wages and other improvements to working conditions, CNBC<\/a> reports, citing union sources. Last month saw the Teamsters and UPS reach a last-minute preliminary agreement<\/a>, averting a potential strike<\/a> that could have rippled across the US economy.<\/p>\n

Labor organizations across the US are jostling for better worker conditions in the wake of the pandemic and record inflation. <\/strong> American Airlines\u2019 pilots earlier this week ratified a four-year labor agreement<\/a> that will see them receive a 46% boost to compensations. That move came after Delta Airlines<\/a> and United Airlines<\/a> upped their pilots\u2019 compensations ahead of the busy summer season, putting pressure on rival carriers to follow suit. Meanwhile, FedEx pilots have turned down a proposal for new labor terms and Southwest Airlines\u2019 pilots are preparing for a possible strike, CNBC added. <\/p>\n

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Russian <\/strong> energy company Gazprom has sent out its first LNG shipment through <\/strong> the North Sea route from its Baltic facility<\/strong>, Reuters<\/a> reports, citing Refinitiv ship tracking data. Russia has been considering the route running from Murmansk along the Russian border to the Bering Strait near Alaska as an alternative to the Suez Canal. The route could reduce transport times between Europe and Asia as Russian trade with Western countries has hit record-low levels due to the fallout from the Ukraine war. <\/p>\n

ICYMI- <\/strong> We explained the significance of the route to global trade flows <\/strong> and the role of climate change in directing more trade through it in a recent explainer, here<\/a>.<\/p>\n

ALSO WORTH KNOWING- <\/strong><\/p>\n