The International Longshore and Warehouse Union and the Pacific Maritime Association late Monday announced a preliminary agreement on terms for a new six-year contract covering more than 25,000 dockworkers at 29 West Coast ports.

The ILWU in a news release at 10:41 p.m. ET said leaders from both sides shook hands in San Francisco over the proposed agreement.

The agreement is subject to ratification by the ILWU and PMA membership. The ILWU and PMA have agreed to extend the previous agreement which expired July 1 and resume normal port operations.

The announcement quoted ILWU President Bob McEllrath and PMA President Jim McKenna as saying that the proposed agreement meets the needs of both workers and the industry. "It allows West Coast ports to be competitive and provides the good jobs that workers and communities need," they stated.

The parties have agreed not to discuss details of the agreement until the ILWU and PMA leadership teams have communicated with their respective membership.