Updated December 9, 2008 9:54:24 AM
The JOURNAL of COMMERCE ONLINE

 

The Port of Portland has suspended its search for a private investor to lease and operate its Terminal 6 container facility. 

Port officials decided to put the terminal concession process, which began earlier this year and was spearheaded by Morgan Stanley, on ice in light of economic conditions and tight capital and credit markets.

As recently as October, officials had said that the Columbia River port was on track for a final decision by the end of the year on proposals from about 10 potential partners for the long-term concession to operate up to 215 acres of the 428-acre facility.

They said at that time that the concession project would be unaffected by current economic and financial conditions because of its long-term nature — 50 years or more.

The move by the port was intended to take it out of direct operation of the container business at T-6. The terminal has never reached its full 700,000-TEU capacity while under port management.

Portland’s T-6 is the only remaining port-operated container facility on the West Coast.

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