The union, fighting for arbitration to be included in their new pay agreement with ports operator Patrick, owned by Asciano, imposed limited work bans and no overtime at some Patrick's operations this week.
Patrick responded on Wednesday by standing down workers.
"Patrick has chosen to escalate this dispute by unilaterally closing down its container terminals, which was never intended by the MUA," National Secretary of the MUA Paddy Crumlin said.
"We've listened to the concerns of the rural community and responded accordingly," he added.
Asciano shaved its full-year earnings forecast by up to 0.7 percent on Thursday due to the dispute with dockers.
It said its revenue outlook would fall by up to A$8 million and its earnings before interest and tax would be up to A$4 million lower than its March forecast of full-year EBIT between A$530 million and A$540 million.
Patrick welcomed the decision by the union to lift its industrial action but said that the parties were no closer to a resolution of this matter.
"The union should guarantee all Australians that it will take no further strikes, bans or limitations of any kind in their pursuit of an unsustainable wage increase and other demands from the Company," Patrick Director Paul Garaty said .
The ports affected by the industrial action do not handle Australia's biggest exports, coal and iron ore, but there were concerns over cotton shipments and other farm products being delayed. (Reuters)
