The heads of the Washington state ports of Seattle and Tacoma formally adopted yesterday the integration of the ports' marine terminal investments, operations, planning, and marketing, the first joint agreement of its kind in North America.
The action came less than two weeks after the Federal Maritime Commission (FMC) approved the partnership established by the two ports, which will be known as the "Northwest Seaport Alliance."The ports will remain separate organizations and retain ownership of their respective assets. Under a port development authority, the ports will manage the container, breakbulk, auto, and some bulk terminals in Seattle and Tacoma. The two ports will be marketed as one entity by a joint team composed of executives that had previously worked for the individual ports.
|