Losses to continue as talks with striking workers bogs down.
Hong Kong International Terminals Ltd said a strike by dockers begun six days ago is causing it a daily loss of HK$5 million. The company could also face claims from shippers as a result of the strike.
HKIT said the striking workers are employed by contractors. Dockers began a sit-in on March 28, demanding a 20% pay increase in the wake of rising living costs and record home prices.
The dock workers are demanding that hourly wages rise by HK$12.50 but sources said HKIT will only agree to a 5% pay increase
Some 500 protesters were forced to leave the port terminal Monday after Hong Kong’s High Court granted a temporary injunction barring them.
Analysts said labor discontent in Hong Kong is rising as its wealth gap widened to the worse since records were kept in 1971.
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