Port of Portland and Harbor Industrial have reached a framework agreement for the operations of Terminal 6, Oregon’s only international container terminal.
According to the agreement, Harbor Industrial will become the long-term operator of the box terminal.
This is the latest development in the US port’s efforts to rebuild and grow container service at Terminal 6, which is currently operated by the Port and Harbor Industrial, which serves as stevedore, an intermediary between the Port and labor.
The new deal establishes a timeline and basic terms that will be solidified over the next six months, while operations are expected to continue seamlessly during the transition.
Port of Portland will receive US$5 million in support from the state to stem ongoing losses from container operations and is contingent on receiving a US$20 million state investment toward capital improvements at the terminal. The Governor’s Recommended Budget includes this capital funding, as well as funding toward maintenance of the Columbia River navigation channel, which benefits all Oregon ports and communities that rely on marine shipping.
“We’re grateful for the continued support of Governor Kotek and other elected leaders to secure funding for container operations, and for the strong signal their commitment sends to international shippers and Pacific Northwest businesses about the reliability of T6,” said Port of Portland Executive Director Curtis Robinhold. “We’re confident that with Harbor on board as a long-term operator, increasing container volumes and adequate state investment to keep marine trade moving, Terminal 6 will continue providing widespread benefits for Oregon for many years to come.”
Container operations at T6 support more than 1,500 family-wage jobs, both at the terminal and in related industries, generating annual local and state tax revenue estimated at US$20 million, according to the Port’s statement.
Additional details about the terms of the Port and Harbor’s deal will be shared when the Port Commission votes on a lease, which is anticipated in the summer of 2025.
The post New deal sees Harbor Industrial take helm of Portland’s Terminal 6 operations appeared first on Container News.
New deal sees Harbor Industrial take helm of Portland’s Terminal 6 operations
