Preliminary Gulftainer Wilmington lease

Governor of Delaware John Carney and Delaware Secretary of State and chairman of DSPC Jeffrey Bullock confirmed that Gulftainer aim to invest US$580m in the port, construct a new container shipping facility on the Delaware River and significantly expand port jobs over the next decade under a 50-year agreement.

Gulftainer CEO Peter Richards said: “We want to restore the Port as an important national cargo gateway, doubling cargoes, doubling revenue to the State, investing hundreds of millions of dollars and adding thousands of workers over the next decade. We see only upside in the US and the Port of Wilmington is poised to become one of the biggest success stories in the US ports and logistics sector.”

Training investment

Under terms of the deal, which Port Strategy reported on last week, Gulftainer’s subsidiary GT USA would agree to invest more than US$580m in the port over the next nine years, including approximately US$410m for a new container facility at DuPont’s former Edgemoor site, which was acquired by DSPC in 2016.

GT USA would establish a training facility at the Edgemoor site for jobs in the ports and logistics industries, with a goal of training 1,000 workers each year. Construction at the Edgemoor site would begin by 2022.

The agreement also states that the number of jobs held at the port by members of the International Longshoremen’s Association would not fall below current levels.

The Board of Directors of DSPC and members of the Delaware General Assembly must approve the agreement. The Board is scheduled to consider the agreement on 6 April.