What's Going On With ZIM Shares Friday?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) stock is moving lower on Friday after the International Longshoremen’s Association, the union that advocates for U.S. dockworkers currently on strike, suspended its strike until January 15.

The Details: The strike resulted in operations coming to a halt at many ports on the eastern seaboard along with the Gulf Coast.

The union resumed work after it reached a tentative deal with the United States Maritime Alliance (USMA), a group representing various shipping industry stakeholders, including ZIM.

The deal, according to CBS, addresses major disputes between USMA and the union. It includes a 61.5% pay increase over the next six years and it puts in place protections for workers from automation. The two sides will continue to negotiate other issues between now and January.

According to the New York Times, the deal ...

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