NEW YORK/WASHINGTON (Reuters)—U.S. dock workers and port operators have reached a tentative deal that will immediately end a three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast, the International Longshoremen's Association (ILA) union and the United States Maritime Alliance (USMX) said on Thursday.
The tentative agreement is for a wage hike of around 62 percent over six years, a source familiar with the matter told Reuters. The workers union had been seeking a 77 percent raise while the employer group previously raised its offer to a nearly 50 percent hike.
Both sides 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.
At least 45 container vessels that have been unable to unload were anchored outside the strike-hit East Coast and Gulf Coast ports by Wednesday, up from just three before the strike began on Sunday, according to Everstream Analytics.
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.
(Reporting by Doyinsola Oladipo; Additional reporting by David Shepardson in Washington; Writing by Richard Valdmanis; Editing by Sonali Paul and Jonathan Oatis)