ICTSI takes over as operator of Portland’s Terminal 6

ICTSI Oregon, Inc., a subsidiary of International Container Terminal Services, Inc. (ICTSI) has officially taken over the operation of the US Port of Portland’s Terminal 6, the only deep draft container terminal on the Columbia River.


Under a 25-year lease to operate the terminal’s container and breakbulk facilities, 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.


Executive Director Bill Wyatt said: “With expanded global reach, access to private capital, and incentive to grow the business here in Portland, we see a bright outlook for local jobs, cargo volumes, and expanded access for regional exporters to ports worldwide.”


Although the Port has owned and operated the container facility since 1974, the landlord business model has only became more common in the past decade with Portland being the last major West Coast port authority to make the switch.


Sam Ruda, Director of Marine and Industrial Development at the Port, initiated a strategic review of the Port’s existing operating model four years ago and the commencement of operations by ICTSI represents the culmination of this initiative.


ICTSI Oregon, Inc. paid the Port US$8 upon closing the deal in addition to annual lease payments of US$4.5m which will increase in line with increasing container volumes.
(Source:http://www.container-mag.com)