West Coast ports remained closed this morning in a dispute that could cost the U.S. economy almost $1 billion per day. Meanwhile, a federal mediator may meet with both sides in the port dispute this week.

Shipping lines and sea terminal operators said the 29 ports will remain closed until dockworkers extend their expired contract.
Members of the International Longshore and Warehouse Union (ILWU) were locked out of ports in California, Oregon and Washington Sunday night by the Pacific Maritime Assn., which accused the union of disrupting work by understaffing operations and sending out workers not skilled for specific jobs. But the 10,500-member union denied claims of a slowdown and said it will not budge until the lockout is ended.
Representatives of the shipping operators and dockworkers met Monday afternoon but no major progress was reported. ILWU officials said both sides planned to meet with a federal mediator as early as today, although maritime officials did not confirm that such a meeting was scheduled to occur.
The Bush administration said that it is concerned about the effect a port strike would have on the nation's economy but that it has no immediate plans to break the impasse by declaring a national emergency.
The U.S. economy would lose $4.7 billion in wages and revenue during a five-day shutdown, according to a study conducted for the shipping lines. A 10-day shutdown could cost $19.4 billion.
The bulk of the nation's imports from China and Japan come through the ports of Long Beach and Los Angeles, according to the Associated Press. The labor crisis comes as importers scramble to bring in merchandise for the Christmas shopping season.
The two sides are at odds over pensions and other benefits, as well as cargo-handling technology that the union fears would wipe out jobs.
Dozens of ships dropped anchor outside the ports in cities including Los Angeles, Oakland, Seattle and Tacoma, Wash., according to the maritime association -- including 46 in Southern California ports alone. Seventy other vessels already in port waited to be loaded or unloaded.