Proposed July 15 Strike at Port Silos in Constanta, Romania Averted
July 15: The union representing workers at ADM’s North Star Shipping grain silos in Romania’s Black sea port of Constanta said on Monday an indefinite strike scheduled to start on July 15 had been averted after reaching an deal on wages.
An indefinite strike at the Constanta port silos could have severely impacted grain supplies to Egypt, the world’s largest wheat importer, and where ADM is an active exporter.
Egypt closed its local wheat supply season on Monday, meaning imports would be the sole supply source.
“Talks with them have been fruitful. Our indefinite pay strike plans at ADM’s facilities are now cancelled as we have agreed to a pay rise of 12% on average,” Trans-Conex union leader Silviu Stanciu told Reuters.
Officials at global grains trader Archer Daniels Midland in Constanta were not immediately available to comment.
In Egypt’s tender on July 9, ADM sold 120,000 tonnes of Romanian wheat at $198 a tonne FOB and $15.44 freight, equating to $213.44 cost and freight (C&F) to Egypt’s state buyer, the General Authority for Supply Commodities (GASC).
In Romania, ADM is one of the largest port operators, handling barley, rapeseed, wheat, sunflower seed and maize, as well as other commodities such as coal and iron ore. It also operates a transport and trading office in Bucharest. ADM has more than 620 employees in Romania.
Source: Reuters / Radu Marinas