DP World and the Maritime Union of Australia reached an in-principle agreement in the long-running contract dispute that had been crippling container terminal operations in Australia’s four primary ports. The settlement came after three days of facilitated negotiations overseen by the country’s Fair Work Commission and shortly after the MUA reported that it was planning to extend the rolling job actions into a fifth month. The proposed contract still requires approval by the workers, but the MUA immediately filed a notice withdrawing all its planned protected industrial actions. Estimates are that the strike was costing the Australian economy as much as A$50 million (US$33 million) per week and that more than 50,000 containers are backlogged. Reports are that it could take six weeks or more to clear the port congestion.