OCTOBER 24, 2012 — There looks to be some positive progress in talks aimed at resolving a labor dispute that could close 14 ports on the U.S.East and Gulf coasts.

Federal Mediation and Conciliation Service Director George H. Cohen issued a statement today on negotiations between the United States Maritime Alliance and International Longshoremen's Association. It said:

"I am pleased to report that the parties met today under the auspices of the Federal Mediation and Conciliation Service and discussed a number of major issues. As a result of today's discussions, the parties will have their respective committees review their positions and analyze associated costs. Meanwhile, the parties' subcommittees will continue to meet in an effort to resolve additional outstanding issues. Again, I wish to commend the parties for their hard work and their commitment to this process.

"As is our custom and practice, due to the sensitive nature of these high profile negotiations, we will have no further comment on the schedule for the negotiations, their location, or the substance of what takes place during those negotiations."

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