5.5 C
Hamburg
Monday, April 15, 2024
Home Port News Ports America to invest in Gulfport terminal

Ports America to invest in Gulfport terminal

The Mississippi State Port Authority has entered into a long-term lease and operating agreement with Ports America, the US largest terminal operator and stevedore.

The Port of Gulfport and Ports America have a long-standing relationship, with Ports America acting as a licensed stevedore at the Port since 2006.

In September of 2022, the Port of Gulfport and Ports America entered into a Letter of Intent outlining their mutual intent to cooperate to increase commerce at the Port of Gulfport.

Based on that Letter of Intent, the resulting lease and operating deal includes a 20-year term with the option for two additional 10-year terms available to Ports America.

One major feature of the deal is a US$43 million investment from Ports America to develop the vacant Terminal 4 at the Port into a cargo-handling terminal.

This includes a new ship-to-shore crane and surface improvements, while this investment is in addition to Ports America’s recent acquisition of new cargo-handling equipment from Mississippi-based manufacturers.

The partnership is expected to increase cargo throughput, boost ship traffic and provide a basis for the Port’s ongoing project to deepen and widen the channel.

“We have so many strategic advantages here at the Port of Gulfport, and this partnership will develop approximately 153,780 meters of currently vacant land in Terminal 4, allowing for full utilisation of the asset,” noted Jon Nass, CEO & executive director of the Port of Gulfport.





Latest Posts

NYK pioneers truck-to-ship fuel ammonia bunkering

At the Sea Japan 2024 event, NYK announced its plans to supply fuel ammonia at the end of May to an upcoming NYK-owned ammonia-fueled...

Vitesco Technologies and DHL form strategic partnership

Vitesco Technologies established a strategic partnership with DHL Supply Chain, where DHL serves as the Lead Logistics Partner (LLP). Commencing in March, DHL will centrally...

Gebrüder Weiss establishes central IT and logistics hub near Austria’s freight terminal

Gebrüder Weiss, a globally operating full-service logistics provider, is setting up a central location for IT and logistics near Wolfurt's freight terminal, ensuring the...

Maersk restructures Europe-West Africa service network

Danish ocean carrier Maersk has announced changes in its Europe-West Africa service network, which will take effect from the 17th week of the year. The...

Carriers spot bargaining room for India-Middle East cargo as Red Sea gains fade

India-Persian Gulf trades seem to be a glaring exception for container lines, as they are rapidly losing the pricing steam they have had from...