ICTSI begins operating Port of Portland's Marine Terminal 6

ICTSI OREGON, a subsidiary of Manila's International Container Terminal Services Inc, has started operating the Port of Portland's Terminal 6, a deep water container terminal with breakbulk facilities on the Columbia River.


Over an initial lease period of 25 years, the terminal operator said in a statement that it 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."


Local ICTSI chief 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."


Under the lease agreement, the terminal operator paid port authorities 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," the statement added.
(Source:http://www.schednet.com)