ILWU-PMA Contract Nearly Finalized – The Pacific Maritime Association (PMA) ratified the five-year contract with the International Longshore & Warehouse Union (ILWU). An announcement form the ILWU is expected today announcing that their 14,000 members ratified the contract as well.  The new retroactive contract would expire June 30, 2019.

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European Leaders Demand More from Greece in Bailout Deal – Leaders from Germany and France are adamant about that the International Monetary Fund (IMF) be involved in a Greek bailout deal in addition to the European Commission and the European Central Bank.  Greece is in danger of default within two weeks without an aid package.

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Houston Container Traffic Jumps 46% in April – The Port of Houston saw a 46% increase in container volume in April, a result of cargo diversions from the U.S. West Coast. The East Coast Ports of Savannah and Charleston also experienced a 25.8% and 11.3% increase respectively during the same time period.  As West Coast congestion problems continue to fade, industry watchers are waiting to see how long these ports sustain their increased volume.

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