A massive strike across the U.S. East and Gulf Coast ports has been averted after a dockworker union and an alliance of companies, terminal operators, and port associations, negotiated a new labor contract.

The International Longshoremen's Association reached an agreement Wednesday on a new master labor contract with the United States Maritime Alliance, averting a strike at U.S. east coast and gulf coast ports.

Dockworkers and employers on the East and Gulf Coasts had until Jan. 15 to reach a new agreement that settled differences over automation.