MARKET UPDATE
PMA, ILWU REACH LABOR DEAL, TRUSTED SOURCES SAY
Date: Feb 20, 2015
Source: Journal of Commerce

Word was spreading on Friday morning that West Coast dockworkers and employers reached an agreement around 9 p.m. on Thursday on a 5-year agreement that ends nine months of negotiations and signals a potential end to crippling West Coast port congestion.

One major forwarder on Friday was reporting the news internally based on several trusted sources that said the agreement had been reached. No details were released and the Pacific Maritime Association and International Longshore and Warehouse Union had not yet scheduled an announcement.