ICTSI takes over reins of Portland terminal

ICTSI Oregon, a subsidiary of Philippines port operator International Container Terminal Services Inc, has taken over operation of the Port of Portland’s Terminal 6, ushering in a new era of management at the Columbia River’s only deep-draft container terminal.


Under a 25-year lease to operate Terminal 6 container and breakbulk facilities, the terminal operator is enacting ambitious 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.


The agreement, approved by the Port Commission in May 2010, will continue to position Portland as an international cargo gateway.
Executive sirector 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.”


The port has owned and operated the container facility since the gates first opened in 1974. The landlord-tenant relationship has officially begun at the port. Portland is the last major West Coast port authority to make the switch.


ICTSI Oregon has hired 20 staff to support terminal operations, but the port retains responsibility for facility security and
for some maintenance functions on-site.


Under the agreement, ICTSI paid the port US$8 million upon closing the deal coupled with annual lease payments of $4.5 million. As container volumes increase, so too will payments to the port.
(Source:http://www.cargonewsasia.com)