Federal Mediation and Conciliation Service

A container ship is docked at the Port of Miami on Dec. 27, 2012 in Miami, Fla. (credit: Joe Raedle/Getty Images)

Port Strike Averted After 30-Day Contract Extension Reached

The union for longshoremen along the East Coast and Gulf of Mexico has agreed to extend its contract for 30 days, averting a possible strike that could have crippled operations at ports that handle about 40 percent of all U.S. container cargo, a federal mediator announced Friday.


File photo of containers. (credit: FRANK PERRY/AFP/Getty Images)

Billions Of Dollars Could Be Affected As Thousands Of Dockworkers Threaten To Strike

Federal mediators seeking to avoid a walkout of thousands of East Coast and Gulf Coast dockworkers from Massachusetts to Texas have called a meeting of them and shipping companies.