A rejection of the deal would have triggered a lockout starting on May 2 at the Mirabel manufacturing plant near Montreal.

Despite those disruptions, Maersk still lowered its expected operating loss for the year from $5 billion to between zero and $2 billion.

Leaders also said they've struggled to hire and retain skilled supply chain-focused workers in the last two years. 

Lufthansa estimates weeks of airline worker strikes impacted first quarter earnings by as much as €350 million.

The two rail giants account for nearly 90% of the industry’s revenues and more than three-quarters of overall tonnage carried by the sector.

Spending by shippers dipped by almost 28% from Q1 of 2023, more than the dip in volume, indicating lower rates.