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Ongoing infrastructure concerns, particularly on the USWC, growing demand for all-water service between the USEC and Asia, and the expanding trade between the U.S. and Latin America prompted MOL and the Jacksonville Port Authority (JAXPORT) to explore the development of a major container terminal at the port's Dames Point Marine Terminal.
Discussions between the two parties have been ongoing since October 2004. MOL and JAXPORT officials recently acknowledged an agreement has been reached on basic terms and conditions. A signing and groundbreaking ceremony is scheduled for August 3, 2005. Pending final approval of the project by the JAXPORT Board of Directors, construction of the new facility is expected to begin in the first quarter of 2006 and be operational by late 2007 or early 2008.
The new terminal will consist of a 160-acre container handling facility, two 1,200' berths, six Post-Panamax container cranes, as well as the infrastructure necessary to load and unload two large vessels concurrently. MOL will also have the option to expand the terminal to over 200 acres to meet the expected increases in cargo volume. MOL chose Jacksonville because of its strategic geographic location, access to inland markets via Interstates I-10 and I-95 and excellent rail access.
TraPac, MOL's U.S. terminal operating subsidiary, will operate the new JAXPORT terminal. TraPac currently operates two major container terminals on the USWC in Los Angeles and Oakland, CA. The Los Angeles terminal is considered the most efficient terminal operation in the U.S. TraPac Oakland, which is being increased in size from 33 to 66 acres, is modeled after the Los Angeles terminal and will also be equipped with an advanced, fully-integrated terminal management, control and gate system. TraPac is expected to bring the same high level of innovation and efficiency to its Port of Jacksonville operation.
"This opportunity is consistent with our strategy to expand our terminal operations in the U.S., as well as to enhance service to our customers by providing multiple, cost-effective alternatives," stated Hiroyuki Sato, Deputy President, MOL, Ltd. "We also believe the new terminal at Dames Point will become a major gateway for the rapidly growing Asia-Southeast U.S. and U.S.-Latin America markets," added Sato.
About MOL
MOL operates one of the largest and most diverse networks of liner and logistics services around the globe, including weekly Transpacific, Transatlantic, Americas and Asia-Europe services. MOL (America) Inc. is a wholly owned subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL), one of the world's largest multi-modal shipping companies. Please visit the company's website at www.molpower.com. |
