Mermaid said the agreement delivered market competitive wages, long-term employment security and improved flexibility.

The agreement was approved by employees through an electric ballot, with Mermaid now set to apply to the Fair Work Commission for final approval.

The Maritime Union of Australia blamed proposed worker pay cuts for its threats of protected action at the base in recent months, all in all, raising the spectre of a strike three times.

The union gave the company notice that 65 stevedores would take legal protected action at the wharf for five consecutive 24-hour periods if their demands were not met on the enterprise bargaining agreement.

According to the MUA, the proposed pay cut was 8% over the life of the agreement.

Watch this space for more updates.