Port Strike in Chile – Union workers have gone on strike at key Chilean ports San Antonio and Angamos. The strike began after the union’s request for regular salary talks to include part-time and non-union workers was not addressed. Part-time and non-union workers make up the bulk of those in the port industry.
Read more from BN Americas.
Panama Canal Authority Refuses to Pay Cost Overruns – Last week the consortium of builders working on the Panama Canal requested a payment of $1.6 billion in cost overruns from the Panama Canal Authority (PCA) in order to continue working on the expansion. The PCA rejected this demand and is preparing to bring in a third party to finish the project if no deal is reached.
Read more from The Maritime Executive.
Japan Negotiates FTA with Turkey – Japan and Turkey are negotiating a Free Trade Agreement (FTA) that is expected to deepen economic relations and boost bilateral trade. With the FTA, small-medium enterprises (SME) in Turkey will be given more opportunities to export their products to Japan, one of the country’s most important markets.
Read more from World Bulletin.
Suez Canal Plan Finalization in the Works – Egypt has invited more than a dozen business groups to bid on a chance to develop the Suez Canal, the fastest shipping route between Europe and Asia. A winning consortium will be selected in the next three months and will be given six months to come up with a master plan.
Read more from The Maritime Executive.
