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Argentina's Grain Strike Ends

Demurrage costs expected to be more than $1.9 billion

Port_container_cargo_exports_VIA PIXABAY_Feb 2021

Argentina's port and grain union workers have ended a 20-day strike after an agreement was reached Dec. 29 following government intervention, lifting a major work stoppage that left more than 150 grain ships stranded at the country's ports, reports S&P Global Platts.

The agreement was reached with oilseed and port worker unions at a meeting hosted by Argentina's Ministry of Labor, ending a strike that has paralyzed port terminals and the country's agriculture industry.

Workers were demanding a wage raise, holding back cargo ships at a crucial time when the export season ramps up in Argentina.

An Argentina-based analyst estimated the overall vessel demurrage cost at around $1.9 billion.

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