Dockworkers at U.S. East and Gulf coast ports have agreed to start moving cargo again while they continue collective bargaining with their employers on a new contract, the union representing the workers said in a statement Thursday.

The International Longshoremen’s Association said it had agreed to extend the contract until Jan. 15 and work will resume.

“The strike is over,” ILA Local 333 President Scott Cowan told CBS Baltimore affiliate, adding that dockworkers will be back at work Friday morning to load and unload cargo after a three-day work stoppage.

Cowan said the union has accepted an offer that would increase wages 61.5% over the new six-year contract, “and we’re going to have other language to protect us from automation worked out over the next few months and other issues that we need resolved.”

Container ports from Houston to Miami and up to Boston have been closed since the labor contract between the ILA and the U.S. Maritime Alliance, which represents terminal operators and shipping lines, expired Tuesday.

Dozens of ships carrying containers and autos have anchored off the coast of major trade hubs including New York, South Carolina and Virginia over the past few days.

President Joe Biden, who had put pressure on port employers and shipping lines to reach a deal with the striking dockworkers, expressed optimism about the suspension.

“We’ve been working hard on it,” he told reporters Thursday evening. “By the grace of God and good will of neighbors, it’s going to hold.”

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(With assistance from Kate Queram.)

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