Printer Friendly

Port Manatee to Purchase Second Mobile Harbor Container Crane.

PALMETTO, Fla. -- The Manatee County Port Authority approved the purchase of Port Manatee's second mobile harbor container crane at a meeting February 18th.

The addition of the second crane bolsters Port Manatee's container-handling capacity and opens the door for new containerized services.

"Securing this second crane is essential for Port Manatee as we prepare for increased shipping traffic expected from the expansion of the Panama Canal," said Port Manatee Executive Director David L. McDonald PPM([R]). "When you couple this with the port's proximity to the canal, the 2010 completion of our new Berth 12 and adjacent container terminal, and the significant incentives offered through the Port Manatee Encouragement Zone, we believe we have the right situation to attract major shipping lines."

The crane purchase is the result of a public private partnership between the MCPA, the Florida Department of Transportation and Logistec USA Inc., the same company that partnered with the port for its first crane purchase in late-2007.

FDOT's role in the acquisition amounts to providing a grant for approximately half of the estimated $4 million purchase cost. Logistec will essentially contribute an equal share, with the crane being titled to the MCPA.

Operations, maintenance and insurance for the crane become the responsibility of Logistec for the term of the agreement.

A lease/mortgage arrangement between Logistec and the port authority guarantees Port Manatee a positive cash flow during the 15-year life of the partnership.

Port Manatee anticipates delivery and operational certification of the crane by Oct. 1, 2010.

Note: For a downloadable photo of Port Manatee's current mobile harbor container crane, visit the Port Photo Gallery at www.portmanatee.com/gallery.aspx
COPYRIGHT 2010 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1U5FL
Date:Feb 18, 2010
Words:275
Previous Article:General Growth Properties Responds to Simon Property Group Letter Received February 17.
Next Article:ESG Completes 150th Lab Validation Report.
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters