Sponsored by Oregon Business

ICS hopes to double shipping volumes

| Print |  Email
High Five
Thursday, May 13, 2010

Philippine company International Container Services has leased Terminal 6 in the largest financial transaction in the history of Port of Portland.

Port officials rejected complaints from a New Jersey company and approved the deal with the Philippine company, which expects to double the number of containers handled at the terminal in five years.

"We have concrete plans to make this grow," Marcelo Suarez, International Container senior vice president, told The Oregonian. Suarez said his company would start by recruiting smaller, niche cargo carriers from locations including Central and South America.

Port managers hailed privatization of Oregon's only container terminal as a landmark deal that would better connect Portland to global trading powers. Longshore union leaders also welcomed International Container, which develops and operates ports worldwide, and commits to operating T6 as its sole West Coast venture.

Read the whole story at OregonLive.com.

{biztweet}Suarez Port of Portland{/biztweet}

Oregon Business magazinetitle-sponsored-links-02