Former US west coast rivals buddy up
Old US west coast rivals the Ports of Seattle and Tacoma have formed an unlikely alliance in order to share space and ensure their ability to reinvest in terminal assets and infrastructure.
The ports said that the decision to form the alliance is a strategic response to the competitive pressures that are reshaping the global shipping industry – shipping alliances, larger vessels and reduced port calls.
“Where we were once rivals, we now intend to be partners,” said Stephanie Bowman, co-president, Port of Seattle Commission.
“Instead of competing against each other we are combining our strengths to create the strongest maritime gateway in North America.”
What the alliance means in real terms is that the two port commissions will enter into an Interlocal Agreement (IA) whereby they will examine business objectives, investments, financial returns during a period of due diligence.
During the due diligence period, John Wolfe, CEO, Port of Tacoma and Kurt Beckett, Deputy CEO, Port of Seattle will co-lead the planning work. Citizen and stakeholder public review will be undertaken throughout the due diligence period.
The two port commissions intend to submit a more detailed agreement for the Seaport Alliance to the Federal Maritime Commission (FMC) by March 2015.
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