US east and Gulf coast dockers reached a tentative deal that ended a crippling three-day strike, said the two sides in a statement, reported Reuters.
The tentative agreement is for a wage hike of 62 per cent over six years, two sources familiar with the matter. That would raise average wages to about $63 an hour from $39 an hour over the life of the contract.
The International Longshoremen's Association (ILA) had been seeking a 77 per cent raise while the employer group - United States Maritime Alliance (USMX) - had previously raised its offer to a nearly 50 per cent hike.
The deal ends the biggest work stoppage of its kind in nearly half a century, which blocked unloading of container ships from Maine to Texas and threatened shortages of everything from bananas to auto parts, triggering a backlog of anchored ships outside major ports.
The union and the port operators said in a statement that they would extend their master contract until January 15, 2025 to return to the bargaining table to negotiate all outstanding issues.
'Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume,' the statement said.
Union boss Harold Daggett said previously that employers such as containership operator Maersk and its APM Terminals North America had not agreed to demands to stop port automation projects that threaten jobs.
US President Joe Biden's administration has sided with the union, putting pressure on the port employers to raise their offer to secure a deal and citing the shipping industry's bumper profits since the Covid crisis.
The tentative deal 'represents critical progress towards a strong contract,' President Biden said.
His administration has repeatedly resisted calls from business trade groups and Republican lawmakers to use federal powers to halt the strike - a move that would undermine Democratic support among unions ahead of the November 5 presidential election.
Acting Secretary of Labour Julie Su was in New Jersey all day with the two parties working to get a deal done, a source told Reuters.
The ILA launched the strike by 45,000 port workers, its first major work stoppage since 1977, on Tuesday after talks for a new six-year contract broke down.
SeaNews Turkey
The tentative agreement is for a wage hike of 62 per cent over six years, two sources familiar with the matter. That would raise average wages to about $63 an hour from $39 an hour over the life of the contract.
The International Longshoremen's Association (ILA) had been seeking a 77 per cent raise while the employer group - United States Maritime Alliance (USMX) - had previously raised its offer to a nearly 50 per cent hike.
The deal ends the biggest work stoppage of its kind in nearly half a century, which blocked unloading of container ships from Maine to Texas and threatened shortages of everything from bananas to auto parts, triggering a backlog of anchored ships outside major ports.
The union and the port operators said in a statement that they would extend their master contract until January 15, 2025 to return to the bargaining table to negotiate all outstanding issues.
'Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume,' the statement said.
Union boss Harold Daggett said previously that employers such as containership operator Maersk and its APM Terminals North America had not agreed to demands to stop port automation projects that threaten jobs.
US President Joe Biden's administration has sided with the union, putting pressure on the port employers to raise their offer to secure a deal and citing the shipping industry's bumper profits since the Covid crisis.
The tentative deal 'represents critical progress towards a strong contract,' President Biden said.
His administration has repeatedly resisted calls from business trade groups and Republican lawmakers to use federal powers to halt the strike - a move that would undermine Democratic support among unions ahead of the November 5 presidential election.
Acting Secretary of Labour Julie Su was in New Jersey all day with the two parties working to get a deal done, a source told Reuters.
The ILA launched the strike by 45,000 port workers, its first major work stoppage since 1977, on Tuesday after talks for a new six-year contract broke down.
SeaNews Turkey
