MSCs TiL invests in new Baltimore container terminal
The new container terminal will increase by more than 50% the space of container operations within the port.
It would give Baltimores port a major competitive advantage along the US Eastern Seaboard. The new facility will be the next phase in the development of the former site that once housed Bethlehem Steels operations including a large shipyard and the overall expansion of the Port of Baltimores operations.
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This is one of the most important and consequential announcements we have made since setting out with our initial plans to redevelop the former Sparrows Point Steel Mill, said Kerry Doyle, managing director of Tradepoint Atlantic. Todays announcement means that not only will Baltimore and Maryland remain competitive with other major East Coast ports for years to come, but that we will gain a substantial advantage over them.
The development of this new terminal fits well with [TiL] companys investment strategy to develop the much-needed additional container handling capacity, said Tom Van Eynde, Investment Director for North America at TiL Terminal.
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The addition of the new terminal, which will be located on 67 hectares (165 acres) within the industrial park, comes at a time when the US East Coast ports have been struggling to keep up with the surge in container volumes.
The new facility will be located less than 75 kms (50 miles) from Washington, DC, and will serve the third biggest consumer market in the US. The new terminal will also have an on-dock rail facility at Coke Point, which will provide the closest link to the Midwest from any of the US ports.
The Port of Baltimore has been investing in the growth of its container and port operations. Operated under a long-term agreement with Ports America Chesapeake, Baltimores Seagirt terminal currently has a capacity to handle 1.5m teu per year.
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