Page 31 - Port of Baltimore Magazine May/June 2013

To subscribe or renew, visit www.marylandports.com May/June 2013 ■ The Port of Baltimore [29]
Award-Worthy
Achievement
The 50-year public-private
partnership between the
Maryland Port Administration
(MPA) and Ports America
Chesapeake has become a
national model of success. It
has also won two prestigious
awards — the “North
American Logistics Deal of
the Year” from Project Finance
Magazine and the “North
American Infrastructure
Deal of the Year” from
Infrastructure Investor
Magazine.
Under the partnership
agreement, which saves the
State of Maryland hundreds
of millions of dollars that
otherwise would have gone
toward capital improvements
at Seagirt, Ports America
Chesapeake is making an
annual payment to the State
and providing ongoing
revenues to the MPA during
the life of the agreement.
PORTS AMERICA
CHESAPEAKE RECEIVES:
t A known future base
payment for 50 years and all
net revenues;
t The right to move and
consolidate all current
container business to Seagirt;
t Control over the timing and
nature of system preservation
costs as long as certain
standards are met; and
t The ability to invest in new
technology as it sees fit.
Left: MSC’s Mauro
Dal Bo noted
that “the future
is today” at the
enhanced Seagirt
terminal.
2
KATHY BERGREN SMITH
KATHY BERGREN SMITH