Port strike averted for now

The contract for dockworkers on the East Coast and the Gulf Coast has been extended for 30 days, averting, for now, a strike that could have begun Sunday:

Federal mediators announced Friday morning that a temporary deal had been reached between the International Longshoremen's Association and the United States Maritime Alliance.

The deal adds a 30-day extension to talks between the two parties, averting a shutdown at the ports that oversee 45 percent of commerce, according to a Bloomberg report. Now, the ILA and the USMA have until midnight on Jan. 28 to iron out their differences and come to a long-term deal.

That's not the only movement being reported:
Mediator: Maritime Alliance, Longshoreman's Association agree on container royalty issue, further negotiations on larger deal - @Reuters
' @BreakingNews via breakingnews.com If the latter report is correct, the two are likely related; Steven Greenhouse had reported that the president of the International Longshoremen's Association had previously refused a contract extension while the royalty issue remained a source of contention.

President Obama had urged a settlement, but stopped short of saying he would act to prevent a strike.