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ILA, USMX Agree to 90-Day Extension

The International Longshoremen’s Association and United States Maritime Alliance agreed to a 90-day contract extension, averting a threatened Maine-to-Texas dock strike at the end of this month.
The extension was announced by George H. Cohen, director of the Federal Mediation and Conciliation Service, after two days of negotiations aided by a federal mediator.
Cohen said the negotiations produced progress on several important subjects and the parties agreed to extend the contract through Dec. 29.
From the Journal of Commerce

Bunge acquires 50% stake in South African agribusiness co. as expansion picks up pace

Bunge Ltd. has announced that it intends to exercise its option to acquire a 50 percent stake in South African leading agribusiness company, Senwes Africa. The move comes as the duo look forward to further African expansion.
Bunge and Senwes entered into a joint-venture agreement almost a year ago, on 1st October 2011, in a bid to pool expertise and achieve greater growth across the countries of the South African Development Community (SADC).
The joint venture, through Senwes’ African operations, already hosts operations in five of the fifteen SADC member states, namely: South Africa, Malawi, Zambia, Mozambique and Kenya, with imminent entry into the Zimbabwean market planned.
More at Ventures Africa

Cargo Slump Pulls Down Bulk Hire Costs To 45-Month Low

The operating cost for a Panamax vessel is $6,472 daily, according to Moore Stephens International, a London-based accountant.Hire costs for Panamax vessels, the largest to transit the Panama Canal, slumped to the lowest in three years and nine months, as a shortage of cargoes in the Atlantic Ocean region worsened an oversupply of ships.
Average daily returns declined for a 17th day, falling 3.9 percent to $3,833, according to the Baltic Exchange, a London-based assessor of freight costs. Rates that have dropped 40 percent in four weeks are within 8.4 percent of the record low recorded on Dec. 12, 2008, exchange data show.
Rates to hire Panamax vessels for transits across the Atlantic slumped to the lowest since the index started in 1999, falling 6.6 percent to $2,238 daily, down 85 percent for the year, data show.
More in the Manila Bulletin

USA : Boeing Engineers Slow Work on Contract Offer, Union Says

Source: Bloomberg

Fiji : Permanent Secretary for Industry says unions harming Fiji by seeking American sanctions

Source: Radio Fiji

Fiji : Union's wage war on ordinary workers by asking the United Sates to punish Fiji for its labour reforms

Source: Jet

Fiji : VIDEO: Statement by PS Industry and Trade on Fiji's Unions Wage War on Ordinary Workers

Source: Intelligentsyia

Fiji : Regime says jobs at risk due to petition by Fiji TUC, which has asked the US to punish Fiji for its labour reforms

Source: Fiji Times

Fiji : Regime under scrutiny at US Trade hearings over workers' rights

Source: FTUC