Australian port dispute is resolved by union-company agreement

MELBOURNE -- Australia's largest stevedore, DP World, has reached a provisional agreement with the Maritime Union of Australia, ending months of industrial action by wharf workers that drove up costs in the trade-dependent nation's supply chains.

The agreement, covering pay and conditions, was announced Friday by both sides. It was reached following three days of negotiations facilitated by Australia's independent industrial relations arbiter, the Fair Work Commission.