A sharp drop in trans-Pacific container volumes this year caused NYK Line to drop plans to lease a proposed 168-acre container terminal at the Port of Tacoma.

NYK Line still plans to leave the Port of Seattle in 2012, but the
carrier now intends to call at a facility operated by APM Terminals in
Tacoma.

Tacoma on Thursday announced three agreements that will make this
series of events take place. First, NYK agreed that its
independently-operated vessels serving the Pacific Northwest will call
at the 135-acre APM facility for 25 years beginning in 2012.

NYK and Yusen Terminals Tacoma, the marine terminal operating arm of
NYK, and APM Terminals signed an agreement acknowledging the new
business arrangement. Finally, the Port of Tacoma signed a “lease
termination and surrender agreement” acknowledging that it is dropping
plans to build the proposed 168-acre terminal on the Blair waterway for
NYK Line.

The 15 to 20 percent drop in trans-Pacific container volumes this year,
and prospects for a slow return to growth, gave pause to both NYK and
the Port of Tacoma to commit significant land and money to an
exclusive-use terminal for the Japanese carrier.

APM Terminals likewise took a hit earlier this year when its main
tenant, Maersk Line, dropped two independent services to Tacoma. Maersk
shifted a service from Southern California to the Pacific Northwest,
but Maersk operates that service jointly with CMA CGM.

NYK’s eventual move to Tacoma will give the port a boost nevertheless.
Last year it moved 132,000 20-foot equivalent units through Seattle.

Tacoma intends to develop the Blair Waterway site as a multi-use terminal.

Source: Journal of Commerce

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