Baltimore plans Seagirt privatization
The Maryland Port Administration is planning to lease its Seagirt Marine Terminal in Baltimore.
A report in the Baltimore Sun over the weekend reports that the port wants to lease the facility to a private company, which would then run it and be responsible for improvements of more than $100 million to make it capable of handling larger ships. The terminal would be expanded and berths deepened from 45 to 50 feet.
The report said the state is turning to privatization because there isn’t enough money in the state’s transportation trust fund for the expansion.
In September, Maryland’s Transportation Secretary John D. Porcarithe said that because of the sluggish economy, declining revenues flowing into Maryland’s Transportation Trust Fund and an unprecedented disruption in federal aid payments it was deferring $1.1 billion in transportation projects over the next six years to compensate for the revenue shortfall
The state’s board of public works next week will consider awarding a $990,000 contract to Public Financial Management to help find a private partner for the state and arrange the deal. The same company has worked with MOL and the Port of Jacksonville on the new TraPac terminal.
Baltimore plans Seagirt privatization
