20 June 2008 08:30 [Source: ICIS news]
SHANGHAI (ICIS news)--Truckers at the South Korean port of Pusan have called off their strike after reaching an agreement on a 19% hike in transport charges, said an official from Xiamen shipment department in south China on Friday.
Though most of the truck drivers have resumed work since Thursday night, the port was still paralysed after the one-week strike that had disabled 95% of the logistics system and would require two to three days to resume normal operations.
Some small groups of workers were still holding out but they were not expected to cause any disruptions once port activities resumed, added the source.
Trading on imports in China were dampened during the strike as chemicals such as bis-phenol A (BPA) and other cargoes from South Korea were suspended, said one importer from China.
South Korea’s LG Chemical and Kumho P&B Chemical are the main BPA suppliers to China.
"LG Chem and Kumho would have to reduce their production rates if the transport problem was not resolved soon," said an importer from China.
Many container trucks had also resumed their long-distance transport service since Thursday, added the Xiamen port official.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections