Florida International Terminals wins Port Everglades terminal lease

Florida International Terminals wins Port Everglades terminal lease    The Broward County board of county commissioners has approved a long-term lease for Florida International Terminals (F.I.T.) to operate a terminal at Port Everglades formerly operated by bankrupt South Stevedoring, Inc.
   F.I.T. submitted the highest bid for the terminal lease in an auction conducted by South Stevedoring Inc.’s Chapter 7 trustee. Under the terms of the settlement with South Stevedoring’s trustee, Broward County will be paid $1.4 million.
   The agreement includes a 10-year lease with two five-year renewal options on an existing 36-acre dockside marine terminal. In addition, F.I.T. is leasing office space at the Port Everglades administration building. In its first 10 years, F.I.T.’s terminal lease is projected to generate approximately $62 million in land rent and marine services revenue.
   F.I.T.’s operations at Port Everglades are anticipated to generate throughput of more than 70,000 containers and one million short tons of cargo annually. The terminal currently handles proprietary cargo from Chilean-based Compania Sudamerica De Vapores S.A. (CSAV) and Compania Chilena de Navigacion Interoceanica, S.A. (CCNI), and also third-party cargo.