Dock workers' strike hits cargo handling at German ports

Police officers are pushed back by demonstrators after the arrest of a participant in a demonstration of port workers in front of the union building in the city center in Hamburg, Germany, Friday, July 15, 2022. Several participants were injured in a brief confrontation between participants and police. (Marcus Brandt/dpa via AP)

BERLIN (AP) — Dock workers at Germany's North Sea ports went on strike Friday in the latest of several walkouts that have added pressures on shipping as their union demands a hefty pay rise to counter high inflation.

The 48-hour strike, which is to end on Saturday morning, has largely paralyzed cargo handling at major ports including Hamburg, Bremerhaven and Wilhelmshaven, news agency dpa reported. It follows a 24-hour walkout in June and a previous one-shift warning strike.

However, there will be no further strikes before late August under a deal reached at the labor court in Hamburg on Thursday night, the court said. The agreement calls for the two sides to set three further dates for negotiations up to Aug. 26. Courts in several cities had rejected bids by employers for injunctions halting this week's strike.

So far, seven rounds of negotiations haven't produced any results. The ver.di union has been calling for a one-year deal that would include a raise of 1.20 euros (dollars) per hour for around 12,000 employees in Hamburg, Bremen and Lower Saxony state, plus a 7.4% increase to balance out inflation.

The dispute comes as shipping already has been disrupted by a variety of issues, including the coronavirus restrictions in China.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

AMD Stock’s Big Drop: Buy the Dip or More Pain Ahead?
Index Investing for Beginners
7 Inflation-Proof Stocks to Protect Your Portfolio

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines