Update: Since this article was written the results have come in of the ILWU vote, and additional information has been added at the bottom.

The members of the Pacific Maritime Association (PMA) have voted to ratify a new five-year contract with the International Longshore & Warehouse Union (ILWU).

Port of Long Beach Ca.

If ratified by the ILWU, the contract will be retroactive from July 1, 2014, and will run through June 30, 2019.

The contract features an enhanced arbitration system that is designed to support waterfront stability, capacity growth and productivity, according to a PMA release.

This is said to be especially important given the increasingly competitive environment West Coast ports face now and into the future from a variety of factors, including the long-anticipated opening of the expanded Panama Canal.

The PMA said health care changes maintained in the contract would foster greater efficiency, cost containment and fraud prevention for the long-term.

The release said that to date, these efficiencies had already delivered significant savings to the health care plan, and that at the same time, ILWU members would continue to enjoy a 'very generous', employer-paid health care plan.

The agreement also features wage and pension increases for ILWU members.

"The West Coast ports are an economic engine for the United States, supporting millions of workers and trillions in economic impact," PMA president and CEO Jim McKenna said.

"The disruptions that occurred during negotiations, and the inconvenience and hardship created by them, were regrettable.

"We look forward to building upon the incredible advantages West Coast ports offer and winning back the trust and confidence of the shipping community. This contract provides important tools to accomplish that."

Update

Last week the ILWU also voted to ratify the contract with 82% in favor.

Voting results were certified by the ILWU’s Coast Balloting Committee, which was chosen by Coast Longshore Caucus delegates elected from each of the 29 West Coast ports.

“The negotiations for this contract were some of the longest and most difficult in our recent history,” ILWU international president Robert McEllrath said.

“Membership unity and hard work by the Negotiating Committee made this fair outcome possible.”

McKenna released another statement following the results of the ILWU vote, saying the contract provided an 'important framework' for the hard work ahead to overcome new competitive challenges and to continue to position the West Coast ports as destinations of choice for shippers worldwide.

"From San Diego to Bellingham, these ports have long been the primary gateways for cargo coming into and leaving the United States, and our interests are aligned in ensuring they can effectively, and efficiently, handle the capacity growth that drives economies and jobs," he said.

Photo: Wikimedia Creative Commons

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