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.
