Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to become the 100 per cent owner of marine terminal operator Ports America ..
Ports America
Canadian investors to acquire Ports America
Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to completely take over North America’s largest marine terminal operator, Ports America, through the acquisition of interest from funds managed by Oaktree Capital Management LP (Oaktree).
CPP Investments, the investment management organisation, has been a minority investor in Ports America since 2014 and has announced that will continue to support the business with long-term capital and continuity of...
https://container-news.com/canadian-investors-to-acquire-ports-america/
CPP Investments to become sole owner of Ports America
Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to become the 100% owner of Ports America, North America’s largest marine terminal operator, by…
https://www.offshore-energy.biz/cpp-investments-to-become-sole-owner-of-ports-america/
Canada pension fund to acquire Ports America
The Canada Pension Plan Investment Board is set to become the full owner of Ports America, the largest U.S. terminal operator, after agreeing to acquire Oaktree Capital Management’s stake.
The price and terms of the acquisition were not disclosed. But Bloomberg reported that the deal, announced Wednesday, valued New Jersey-based Ports America at $4 billion.
Ports America operates terminals at 33 U.S. ports, including Los Angeles; New York-New Jersey; Savannah, Georgia; and Houston. CPPIB, which...
https://www.freightwaves.com/news/canada-pension-fund-to-acquire-ports-america
Port NOLA resumes container operations
The Port of New Orleans (Port NOLA) reports that container vessel operations resumed yesterday, September 7, just nine days after Hurricane Ida made landfall in southeast Louisiana as a category 4 storm.
The first two ships worked at the Napoleon Avenue Container Terminal were the MSC Charleston at New Orleans Terminal and the Hapag Lloyd CSL Manhattan at Ports America. Seacor’s container on barge service was set to be worked last night by Ports America.
“The Port of New Orleans and New Orleans...
https://www.marinelog.com/ports-terminals/port-nola-resumes-container-operations/
New Orleans box terminals to restart on 6 September
The container terminals in the Port of New Orleans (NOLA) remain closed after Hurricane Ida hit the port at the end of August.
Port NOLA said in its latest update that operations in its terminals New Orleans Terminal (NOT) and Ports America are currently closed.
NOT is preparing for limited gate and terminal operations on Monday, 6 September, while Ports America is also tentatively planning to open gate and terminal operations on the same date with restrictions.
Port NOLA said it continues...
https://container-news.com/new-orleans-box-terminals-to-restart-on-6-september/
Konecranes: 15 new eco-efficient hybrid RTGs for PAC
By January 2022, Ports America Chesapeake (PAC) will have 15 new hybrid rubber-tired gantry (RTG) cranes from Konecranes to expand operations and reduce diesel emissions at Port of Baltimore’s…
Cristobal closes Port of New Orleans terminals
Port of New Orleans terminals were closed Monday after Tropical Storm Cristobal made landfall near Grand Isle, Louisiana, on Sunday evening.
Although the storm had been downgraded to a tropical depression and moved east on Monday, terminals were closed “given the continued heavy rainfall and uncertainty of rain and wind conditions,” said Renee Aragon Dolese, Port NOLA’s director of marketing and communications.
She said Port NOLA expected normal business operations at the New Orleans Terminal and...
https://s29755.pcdn.co/news/cristobal-closes-port-of-new-orleans-terminals
Stevedoring services join forces in Charleston
Competitors officially became collaborators Monday as the Charleston Stevedoring Co. (CSC) launched to optimize terminal, vessel and gate operations at the South Carolina port.
CSC is a joint venture of Marine Terminals Corp.–East (Ports America), Ceres Marine Terminals and SSA Atlantic to provide container terminal and stevedoring services at the Port of Charleston.
“The new entity will provide significant benefits to the Port of Charleston, including improved container terminal services...
https://s29755.pcdn.co/news/stevedoring-services-join-forces-in-charleston
Loadsmart and Maersk invest on major US port
Loadsmart’s press release:
Loadsmart, a digital freight technology company, announced they have raised $19 million to embark on a major initiative to improve the flow of freight through American ports. Ports America, the largest terminal operator and stevedore in the U.S., joins the world’s largest container ship and supply vessel operator’s investment arm Maersk Growth as an investor. This latest round follows Loadsmart’s series A round in late 2018, bringing total funding to date to $53.3...