Ports America steps up Seagirt upgrades

Ports America steps up Seagirt upgrades    Ports America is ahead of schedule and expects to complete modernizing the Port of Baltimore's Seagirt container terminal by 2012, Chief Executive Officer Michael Hassing told a port industry conference in Tampa, Fla., on Tuesday.
   The terminal operator is building a fourth berth and purchasing four super-post-Panamax cranes to prepare for the scheduled opening of the Panama Canal's new set of locks in 2014. The expanded locks will be able to handle vessels of 12,000 TEUs or larger.

Hassing

   Hassing said Ports America is two years ahead of plans. Work on the 50-foot deep berth began last March.
   Ports America took over the Seagirt terminal in January 2010 under a 50-year concession from the Maryland Port Administration, and is responsible for infrastructure investments. The company made a $100 million up-front payment and will pay the state rent every year.
   The $105.5 million Seagirt project is part of nearly $2 billion in investments Ports America plans to make in coming years as part of its long-term strategy, Hassing said.
   Hassing predicted container volumes would grow 7 percent to 8 percent in the second half of 2011, after a slow start to the year. Bulk, breakbulk and roll-on/roll-off volumes will range from flat to 2 percent growth, he said. ' Eric Kulisch