Port Crisis the Final Straw for many Businesses: Finance Expert

The ongoing dispute threatens to create further stress on the already strained global supply he ongoing dispute between Danish tugboat giant Svitzer and the Maritime Union of Australia threatens to create further stress on the already strained global supply chain, a senior finance executive has warned.

Mr Angus Sedgwick CEO of OptiPay, which provides finance solutions for importers and exporters, says unless the dispute is rapidly resolved, it will have a detrimental knock-on effect for Australian businesses.

Svitzer has announced plans to lock out workers from midday on Friday following a three-year industrial relations battle with maritime unions over employment conditions.

This means no vessels will be towed in or out of 17 ports in NSW, Queensland, Western Australia and South Australia.

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