• bitcoinBitcoin(BTC)$81,833.001.56%
  • ethereumEthereum(ETH)$2,646.902.81%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$769.031.84%
  • rippleXRP(XRP)$1.444.44%
  • usd-coinUSDC(USDC)$1.000.01%
  • solanaSolana(SOL)$111.851.39%
  • tronTRON(TRX)$0.338048-0.33%
  • zcashZcash(ZEC)$1,526.203.28%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.030.20%
  • HyperliquidHyperliquid(HYPE)$92.951.93%
  • dogecoinDogecoin(DOGE)$0.0890572.26%
  • moneroMonero(XMR)$571.501.34%
  • whitebitWhiteBIT Coin(WBT)$83.471.03%
  • RainRain(RAIN)$0.0139457.29%
  • USDSUSDS(USDS)$1.00-0.02%
  • chainlinkChainlink(LINK)$12.603.85%
  • cardanoCardano(ADA)$0.2274984.07%
  • leo-tokenLEO Token(LEO)$8.940.85%
  • stellarStellar(XLM)$0.1985394.11%
  • uniswapUniswap(UNI)$8.911.72%
  • bitcoin-cashBitcoin Cash(BCH)$256.041.77%
  • Ethena USDeEthena USDe(USDE)$1.000.00%
  • nearNEAR Protocol(NEAR)$3.58-3.34%
  • daiDai(DAI)$1.000.00%
  • litecoinLitecoin(LTC)$58.123.93%
  • CantonCanton(CC)$0.1115582.97%
  • USD1USD1(USD1)$1.000.02%
  • avalanche-2Avalanche(AVAX)$9.4016.21%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.391.49%
  • hedera-hashgraphHedera(HBAR)$0.0812713.42%
  • suiSui(SUI)$0.845.27%
  • Global DollarGlobal Dollar(USDG)$1.00-0.02%
  • shiba-inuShiba Inu(SHIB)$0.0000060.85%
  • BittensorBittensor(TAO)$270.688.11%
  • crypto-com-chainCronos(CRO)$0.0599941.14%
  • MemeCoreMemeCore(M)$1.29-3.95%
  • paypal-usdPayPal USD(PYUSD)$1.00-0.01%
  • tether-goldTether Gold(XAUT)$4,373.750.40%
  • okbOKB(OKB)$120.664.61%
  • Circle USYCCircle USYC(USYC)$1.140.00%
  • Ripple USDRipple USD(RLUSD)$1.00-0.01%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.14-0.28%
  • aaveAave(AAVE)$142.893.60%
  • OndoOndo(ONDO)$0.43436810.15%
  • mantleMantle(MNT)$0.636.07%
  • AsterAster(ASTER)$0.771.76%
  • EthenaEthena(ENA)$0.19884620.71%
  • Pump.funPump.fun(PUMP)$0.004123-3.98%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

Port of Baltimore workers were bracing for a busy summer season. Now thousands face an uncertain future.

March 30, 2024
in Market & News
Reading Time: 4 mins read
A A
Port of Baltimore workers were bracing for a busy summer season. Now thousands face an uncertain future.
ShareShareShareShareShare

DUNDALK, Md. — The livelihoods of thousands of workers who process goods passing through the Port of Baltimore hang in the balance as cargo shipments grind to a halt after a container ship crashed into the Francis Scott Key Bridge this week.

“These longshore workers, if goods aren’t moving, they’re not working,” Transportation Secretary Pete Buttigieg said following Tuesday’s crash, which killed six construction workers on the bridge when it collapsed into the Patapsco River. “They’re likely working right now, but that work won’t last long, and that’s one of our main areas of concern.”

YOU MAY ALSO LIKE

Ukrainian kids return to school as Russia’s war rages on

EWJV: Inflation Can Drive Dividends

Buttigieg noted the port produces $2 million in wages each day for the workers who make a living there, like crane technician Steve Rehak and his two sons.

“It’s pretty devastating,” said Rehak, 61, who added that he has worked at the port for 14 years. “When the ships aren’t here, you’re not making any money.”

Rehak says he will still work for the foreseeable future conducting preventive maintenance and repairs, but his hours have been cut to 40 hours per week — eliminating lucrative overtime.

“This is gonna be tough on them,” he said about his sons’ financial stability.

While crane technicians typically work around the clock regardless of cargo traffic, longshoremen work only when ships are present.

For Shawn Jackson, a longshoreman daily hire, the uncertainty is the hardest part.

“It’s the stress of not knowing,” he said of the lack of a timeline for the port’s reopening.

“The workers are worried,” said Tim Krajewski, secretary-treasurer for the International Longshoremen’s Association’s Local 333 chapter. “It’s a family-sustaining job, and them losing all that income — you’re not just talking severances, you’re talking flat cut when ships don’t come in, period.” Most workers take shifts day by day.

The Port of Baltimore, which comprises publicly and privately owned marine terminals, said Friday that despite speculation, “the fact of the matter is we do not know” when the channel will reopen. The state of Maryland estimates that roughly 15,300 direct jobs are generated by the critical shipping hub and 140,000 jobs are linked to it.

Recommended

Maryland Gov. Wes Moore has repeatedly said that re-opening the port is one of the main priorities — a point he reiterated at a news conference on Saturday.

Moore said the Small Business Administration accepted a request to approve a disaster declaration, granting small businesses affected by the tragedy the opportunity to apply for low-interest loans of up to $2 million.

“They’re gonna help us ensure that our small businesses get the cash that they need to pay their bills and to keep people employed,” he said Saturday.

Applications need to be submitted online by Dec. 30, 2024.

The local chapters of the ILA are set to hold an emergency meeting on Monday to discuss a path forward. In the meantime, union officials are advising members to call their mortgage, car and credit card lenders to ask for deferred payments.

State lawmakers on Friday introduced a bill to provide temporary financial relief for workers and businesses affected by the port’s closure.

The proposed Protecting Opportunities and Regional Trade Act — or PORT Act — includes support for regularly paid port workers who don’t qualify for unemployment, assistance for businesses that need help retaining their local workforce, and incentives for companies to keep their work in Baltimore long term, instead of permanently relocating to another port where ships are being diverted, such as Wilmington, Delaware, or Norfolk, Virginia.

The legislation is led by state Senate President Bill Ferguson (D), who represents the district where the port is located. He hopes to take lessons learned from the pandemic — during which the port remained open — and apply them to Maryland’s current economic emergency.

“If we could help support small businesses and keep people employed in those positions, that was more efficient and a better way to help stabilize the small businesses, rather than having them lay off their entire team and then just hope for a time in the future that they can re-employ them back into those positions when the channel’s back open,” Ferguson told NBC News.

If passed, the measures would immediately go into effect upon Gov. Moore’s signature. The state’s General Assembly adjourns just after midnight on April 9.

Until then, it’s a waiting game.

“Summertime is our busy time,” Krajewski said. “The next couple of months was supposed to ramp up into a very busy season, so we really want that channel to be open as quickly as possible.”

Last year was record-shattering for the Port of Baltimore — its more than 8,000 workers processed 52.3 million tons of foreign cargo worth more than $80 billion.

Julia Jester

Julia Jester is a producer for NBC News based in Washington, D.C.


Credit: Source link

ShareTweetSendSharePin

Related Posts

Ukrainian kids return to school as Russia’s war rages on
Market & News

Ukrainian kids return to school as Russia’s war rages on

September 19, 2026
EWJV: Inflation Can Drive Dividends
Market & News

EWJV: Inflation Can Drive Dividends

September 19, 2026
Steve Kornacki analyzes Massachusetts primary election results | Kornacki Cam | NBC News
Market & News

Steve Kornacki analyzes Massachusetts primary election results | Kornacki Cam | NBC News

September 19, 2026
‘Resident Evil’ Reviving Fall With M-M U.S. Opening: Best Ever For Zach Cregger & Franchise – Deadline
Market & News

‘Resident Evil’ Reviving Fall With $53M-$60M U.S. Opening: Best Ever For Zach Cregger & Franchise – Deadline

September 19, 2026
Next Post
LIVE: Atlanta Police Apprehend Shooting Suspect | NBC News

LIVE: Atlanta Police Apprehend Shooting Suspect | NBC News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Hewlett Packard Enterprise: At 16x FCF Stock Looks Ready To Inflect Higher (NYSE:HPE)

Hewlett Packard Enterprise: At 16x FCF Stock Looks Ready To Inflect Higher (NYSE:HPE)

September 14, 2026
Greek fighter jet crashes during air show near Athens

Greek fighter jet crashes during air show near Athens

September 17, 2026
Coaches tackling youth mental health issues at practice

Coaches tackling youth mental health issues at practice

September 15, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!