Port of Portland
The Port of Portland has announced that it plans to end container operations as of October 1, 2024, after incurring financial losses of more than US$30m over the past three years, including a US$14m shortfall for this year.
Volumes increased during the pandemic as they provided an alternative means to congested major seaports, but the industry has since returned to normal, and the port’s financial losses have grown.
Portland officials hoped a third-party terminal operator would take up the lease but instead asked the state for US$10m in support, which was lowered to US$8m.
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