Fitch Assigns 'AA' to Massport Bonds
Fitch Ratings has assigned a 'AA' rating to the Massachusetts Port Authority's (Massport) approximately $460 million series 2019-B and C senior lien revenue bonds. The Rating Outlook is Stable. Key Rating DriversThe 'AA' revenue bond rating reflects a very strong revenue risk profile anchored by the solid Boston service area, which has supported Logan Airport's (the airport) large, resilient traffic base of over 19 million enplanements and the Port of Boston's (the port) stable container and cruise activity.
$160m Deal for NW Alliance Terminal Project
Orion Group Holdings, Inc. (NYSE: ORN) a leading specialty construction company, has announced a contract award of approximately $160 million.The company’s marine segment has been awarded a contract from the Port of Seattle, Washington, for the construction of The Northwest Seaport Alliance’s Terminal 5 Improvements Project, which aims to modernize the terminal for the loading and unloading of larger container vessels. The company’s scope on the project includes the rehabilitation and strengthening of the existing wharf at Terminal 5…
Seattle Port Celebrates 20th Year of Cruising
The Port of Seattle, celebrating 20 years as a homeport, welcomes the 2019 cruise season with the arrival of the first ship—Celebrity Eclipse, at the Bell Street Pier Cruise Terminal at Pier 66.“Over twenty years ago this community turned a novel idea into a nearly $900 million industry and helped the Port become the most environmentally progressive home port in North America,” said Port of Seattle Commission President Stephanie Bowman.“Today that economic opportunity reaches all the way from Eastern Washington farms and ranches that provide food for cruise customers…
ZIM Returns to NWSA North Harbor
The Northwest Seaport Alliance (NWSA ), a marine cargo operating partnership of the ports of Seattle and Tacoma, has welcome the ZIM Ningbo to its North Harbor.Zim Integrated Shipping Services (ZIM) is expanding its presence at the NWSA by joining the 2M trans-Pacific service calling at Terminal 46 in Seattle, it said in a press release.ZIM will have four of its own vessels in the weekly ZP9 service with increased capacity to serve the NWSA gateway. This will be the first regular…
Fitch Affirms Port of Oakland at 'A+'
Fitch Affirms Port of Oakland, CA's Sr. Revs, Intermediate Revs and Bank Bonds Underlying CP Notes.Fitch Ratings has affirmed the following Port of Oakland, CA bonds:$637 million of senior lien revenue bonds at 'A+';$218 million of intermediate lien revenue bonds at 'A';Underlying bank bonds for the port's commercial paper (CP) notes at 'A'.The Rating Outlook on all of the bonds is Stable.Key Rating DriversThe ratings reflect diverse revenues from the port's aviation, maritime, and Commercial Real Estate (CRE) operations.
Port of Seattle Joins Washington's 'Maritime Blue Strategy'
The Port of Seattle joined with a broad range of maritime stakeholders in support of Governor Jay Inslee’s ‘Maritime Blue Strategy’.According to a press note, the Strategy aims to advance the region’s maritime-based, “blue economy” through increased collaboration between its diverse sectors to promote innovation and sustainable practices that support a competitive gateway with a 21st Century workforce.Port of Seattle Commissioner Fred Felleman served as a member of the Maritime Blue Advisory Committee.The Maritime Blue Strategy aims to make Washington State home to a world-class…
NWSA's Terminal 18 Breaks Records with 2018 Volume
SSA Marine’s Terminal 18 surpassed 1 million twenty-foot equivalent units (TEUs) in yearly container volume last week, marking the first time in Washington state history that a single marine terminal handled a million TEUs in a year.Located in the North Harbor of The Northwest Seaport Alliance, the terminal is on track to top 1.1 million TEUs by the end of 2018. “We are proud to announce that Terminal 18 has handled over 1 million TEUs so far this year,” said Courtney Gregoire, Port of Seattle commission president and co-chair of the NWSA.
AAPA Elects William Friedman As 2018-19 Board Chairman
Friedman is Port of Cleveland's President & CEO. At its 2018 Spring Conference on March 20, the American Association of Port Authorities (AAPA)—the unified and recognized voice of seaports in the Americas—elected William D. Friedman, president and chief executive officer for Northeast Ohio’s Cleveland-Cuyahoga County Port Authority, to serve as the association’s chairman of the board for the 2018-19 activity year that begins in October. Mr. Friedman is slated to be installed as chairman for a one-year term on the final day of AAPA’s 2018 Annual Convention, set for Oct.
Port of Seattle Names Metruck Executive Director
The Port of Seattle Commission has appointed retired U.S. Coast Guard Rear Admiral Stephen P. Metruck as its new Executive Director, effective February 1, 2018. Metruck will succeed interim executive director Dave Soike, who took over following the resignation of port CEO Ted Fick in February 2017. Metruck brings 34 years of executive experience in maritime, security and financial leadership to his new role. Most recently, Metruck was Commander of the Mid-Atlantic Region, overseeing 3…
Northwest Seaport Alliance CEO Wolfe Receives 2017 Connie Award
John Wolfe, CEO of The Northwest Seaport Alliance, received the 2017 Connie Award presented by the Containerization & Intermodal Institute in Long Beach, Calif., on Tuesday, September 19. Since the formation of the NWSA in August 2015, Wolfe has led the marine cargo operating partnership of the ports of Seattle and Tacoma. “This is an incredible honor for John and The Northwest Seaport Alliance,” said Tom Albro, Port of Seattle commission president and co-chair of The Northwest Seaport Alliance. “John leads through hard work and a well-grounded vision.
Tacoma to Add Four More Container Cranes
The Northwest Seaport Alliance to purchase four more container cranes, invest additional $2.9 million in Seattle and Tacoma, Wash. Managing members of the Northwest Seaport Alliance have approved a $52 million purchase of four more container cranes to join four others already on order for Husky Terminal in the South Harbor in Tacoma. They also approved an additional $2.9 million in improvements at Seattle’s Terminal 18 in the North Harbor and Tacoma’s West Hylebos Log Yard and Pierce County Terminal in the South Harbor.
Seattle Continues Search for New Port Director
The Port of Seattle Commission has launched a public process to find a new Executive Director to lead the organization . The Commissioners are seeking input from the public, customers and employees about the qualities and experience desired in a new leader. An electronic survey is available to provide feedback until June 23. The Port Commission has retained a local executive search firm to conduct a regional search and anticipates hiring a new leader this fall. “The Port of Seattle is one of our region’s greatest public assets…
Seattle Kicks Off Its Biggest Cruise Season
The Port of Seattle has kicked off its biggest cruise season yet with more than one million revenue passengers on 218 vessels, making Seattle the biggest cruise port on the West Coast. The cruise industry in Seattle is responsible for over $500 million in economic impact to the region, providing more than 4,000 jobs and $18.9 million in state and local taxes, with each homeported vessel generating $2.7 million to the local economy. “A record number of cruise passengers this season means local agriculture and food companies…
Washington Maritime Economy Grows Stronger -Study
A new report from the Washington Maritime Federation shows strong health of industry, increased average salaries and tremendous opportunity to continue to grow maritime jobs. The Washington State Maritime Sector Economic Impact Study 2017 Update, released at the April 2017 Propeller Club luncheon, updates the seminal 2013 study of the same name and provides a detailed analysis of the positive economic impact of the state’s maritime industry. “This study builds upon past efforts and clearly shows the maritime industry is a cornerstone of the State’s economy…
Port of Seattle Welcomes New Commissioner
The Port of Seattle welcomed its newest commissioner, Fred Felleman, as he took the oath of office along with reelected Commissioner Courtney Gregoire at Tuesday’s Commission meeting. The commission officers for 2016 were also announced. Commissioner John Creighton will serve as Commission President while Commissioner Tom Albro will serve as Commission Vice President, Commissioner Stephanie Bowman will serve as Commission Secretary, Commissioner Courtney Gregoire will serve as Assistant Secretary, and Commissioner Felleman will be Commissioner-at-Large.
Holland America Line Launches Commuter 'Ships'
Holland America Line launched three new commuter “ships” Monday, Jan. 9, that will run on the Sound Transit Light Rail System in Seattle. The trains, which are wrapped to resemble Holland America Line’s newest ship, ms Koningsdam, will cruise the tracks through April 2017, when the summer cruise season to Alaska begins from the Port of Seattle. A special ribbon-cutting ceremony was held at the University of Washington Station, with Holland America Line President Orlando Ashford and Honorary “Captain” Miles Lamb…
Port of Seattle Commission Elects 2017 Leaders
The Port of Seattle Commission has elected its officers for 2017. Commissioner Tom Albro will serve as president, while Commissioner Courtney Gregoire will serve as vice president. Commissioner Stephanie Bowman will serve as secretary, Commissioner Fred Felleman will serve as assistant secretary, and Commissioner John Creighton will be commissioner-at-large. Among its goals for 2017, the Port of Seattle will focus on environmental and economic development initiatives, particularly those focused on reducing carbon emissions and connecting more people to Port-related careers.
Port of Seattle CEO Resigns
Port of Seattle CEO Ted Fick tendered his resignation at a public port commission meeting Thursday after more than 2.5 years at the helm. Fick was recently placed on paid administrative leave due to “personnel issues” and the separation was described as “mutual”. “We accept the resignation of Ted Fick, and acknowledge his desire to return to the private sector,” said Commission President Tom Albro. Port of Seattle Chief Operating Officer Dave Soike, a 35-year port veteran, will serve as interim CEO. The port said the public process to find a replacement will begin later this year.
Seattle/Tacoma Box Volumes Rise in March
Total domestic and international container volumes at the Port of Seattle and Port of Tacoma increased by more than 14 percent for the month of March, and year-to-date volumes were up 10 percent. March international container volumes performed strongly post-Lunar New Year. At 120,018 TEUs (20-foot equivalent units), full imports grew almost 26 percent compared to March 2016. At 99,603 TEUs, full exports were up more than 9 percent in March, making it the strongest month for exports this year.
Holland America Line Kicks off Seattle's Record Cruise Season
The Port of Seattle begins the 2016 cruise season welcoming the first ship call, Holland America Cruise Line’s Nieuw Amsterdam. Larger vessels and more cruises will make this the biggest cruise season ever with nearly one million revenue passengers. Each homeported cruise vessel is estimated to bring in $2.6 million for the local economy. “Cruising to Alaska continues to be an economic driver for our region," said Port of Seattle Commissioner John Creighton. Seattle’s cruise business—currently leading all cruise homeports on the west coast in passenger volume—is responsible for over 3…
Leavitt Heads Seattle Port's Environment Protection, Development
After an extensive national search, the Port of Seattle has promoted Elizabeth Leavitt to lead its work to protect and enhance the environment. The Senior Director for Environment and Sustainability is a newly created position leading a center of expertise that consolidates environmental, sustainability, and planning functions. Leavitt will report to the Chief Operating Officer (COO) and will serve on the CEO’s Executive Leadership Team. “It is impressive that, within the large candidate pool, the Port’s own staff provided excellent people who rose to the top,” said Port COO Dave Soike.
Port of Seattle Commission passes paid parental leave
The Port of Seattle Commission approved a motion to provide four weeks of paid parental leave for non-represented employees during the 12 months following the birth, adoption, or placement of a foster child in the employee’s home – effective Jan. 1, 2016. “This action ensures that every Port employee will have dedicated paid leave to recover from birth and/or bond with a new child,” said Port of Seattle Commission Co-President Courtney Gregoire. “We recognize those first days and weeks are important to the health of all the members of the family.
Seattle’s Terminal 5 Closer to Becoming ‘Big Ship Ready’
The Port of Seattle has completed the environmental analysis of Terminal 5 and has prepared the Final Environmental Impact Statement (FEIS) on the project to modernize the cargo-handling facility in order to serve larger cargo vessels. The proposed upgrades to Terminal 5 are wharf rehabilitation, berth deepening, electrical service and improvements to the upland portions of the property. “Based on public comment we are including a number of improvements, such as shore power for vessels…
New Apps Aim to Save Fuel, Accelerate Cargo Flow
The Northwest Seaport Alliance said it is set to launch two new mobile applications in early November aiming to help speed the flow of containers through port facilities and along local freight corridors, reduce idling-related air emissions and save fuel at the Port of Seattle and Port of Tacoma. DrayQ aims to give truck drivers real-time information about wait times in and around marine cargo terminals, and DrayLink will interconnect the drayage community to better dispatch, track and record container moves from pickup to delivery.
Modernization of The U.S. Fishing Fleet
Coming in the January 2017 edition of Maritime Reporter & Engineering News is an insightful report on the modernization of the U.S. Fishing Fleet, with a focus on the ubiquitous Pacific Northwest. Modernization of the North Pacific Fishing Fleet, a study by The McDowell Group for the Port of Seattle, has made the rounds and given weight to the idea that a major fleet upgrade really is underway. With average 2014 gross revenues having run between $2 million for Bering Sea/Aleutian Island trawl vessels to $16 million for some catcher-processors…
Hanjin Sells Operations at Port of Seattle
Bankrupt South Korean shipping company Hanjin will sell its operations of the Port of Seattle’s Terminal 46 to Switzerland-based Mediterranean Shipping COmpany (MSC) subsidiary Terminal Investment Limited (TIL), reports AP. The Seattle Times reports Hanjin will sell its majority stake in the terminal operating companies at the Seattle and Long Beach ports for $78 million. Hanjin Shipping filed for bankruptcy protection at the end of August, worrying local retailers about the fate of their cargo.