Australian Tug Boat Workers Threatening to Strike at Nation’s Main Iron Ore Port

Reuters reported today that tugboat workers at Australia’s Port Hedland are threatening to strike over disputes regarding vacation and pay. As Australia’s main iron ore port, the strike could cut global iron exports by a quarter, according to Reuters.

As quoted in the publication:

Tugboat deckhands at Port Hedland, used by Australia’s second- and third-largest iron ore producers, on Monday approved a plan to go on strike for one, two or seven days if they are unable to resolve a dispute over vacation and pay. A disruption in shipments from BHP Billiton and Fortescue Metals Group may help prop up iron ore prices that have lost 14 percent from April highs, although bigger rivals Rio Tinto and Brazil’s Vale could fill any short-term gap in a well supplied market.

Click here to read the full Reuters article.