Property damage and business interruption

13.11, strike, business interruption

Russia: St Petersburg dockers went on an unlimited strike demanding a 30% rise in tariffs and guaranteed wages. In total, 360 people participated in the strike. According to the dockers’ union, the daily production figures would drop by 40%. The strike action was triggered by the fact that representatives of trade unions of stevedore companies, merged into the Marine Port Corporation, failed to reach agreement with the employers. The union expected the management of the Marine Port Corporation to appeal against legitimacy of the strike in court. The strike affected loading at the Sea Port of St Petersburg. The port shipped 11.7 million tonnes in cargo last year, or about a fifth of the total loaded by the bigger Port of St Petersburg. The strike affected refined oil-product shipments by the Port of St Petersburg, which is a separate company. The strike, however, disrupted exports of steel from Severstal, aluminium from United Company RUSAL and coal mined in western Siberia. Copper, zinc and nickel exports through the port were also affected.