ICTSI Oregon Seen Sustaining Growthby Staff
Malaya Business Insight, January 10, 2011
The Port of Portland has expressed confidence International Container Terminal Services Inc. (ICTSI) can strategically grow the volume at Terminal 6 in the US West Coast port.
Starting February 12, ICTSI Oregon will assume the control and responsibility of the container terminal and break bulk steel yard at Terminal 6.
Joshua Thomas, media relations manager of Marine and Industrial Development, said: "The timing is excellent, considering that here at the Port of Portland we're seeing positive momentum building from the deepened Columbia River navigation channel (40 to 43 feet), newly constructed transportation and terminal infrastructure, new customers and tenants, and landside development."
Through November, vessel calls were up 16 percent, while total tonnage rose 31 percent from 2009. In fact, every cargo category yielded year over year increases in 2010.
"Their experience and relationships will enhance Portland's ability to sustain and grow the business. ICTSI's large base of operations and financial strength also allows it to access capital markets that are not available to the port," he added.
Portland will be ICTSI's exclusive West Coast operation.
"We view the lease as a vote of confidence in Portland and the surrounding region," Thomas said.
As transition comes near, Portland has been working collaboratively with ICTSI to ensure a smooth transition.
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