ICTSI enters US market with Port of Portland agreement
ICTSI Oregon has officially taken over operation of the container and breakbulk facilities at the Port of Portland’s Terminal 6. The Port has owned and operated the container facility since the gates first opened in 1974, and is the last major West Coast port to switch to the landlord-tenant business model. Under the 25-year lease agreement, the Port retains responsibility for facility security and for some maintenance functions on-site. ICTSI paid the Port $8 million upon closing the deal, coupled with annual lease payments of $4.5 million. Payments to the Port will increase as container volumes increase. ICTSI plans to boost service for both imports and exports while leveraging intermodal rail facilities for movement of boxes to and from inland markets by train. ICTSI is involved in the operations and development of 21 marine terminals and port projects in fifteen countries around the world, although Portland is the company’s entry into the US market. Quelle: eyefortransport |