Port of Seattle extends lease agreements in terminals

Port of Seattle extends lease agreements in terminals The Port of Seattle said Thursday the harbor commission has authorized lease extensions for its largest and newest container terminals — 30-year leases for SSA Terminals to operate Terminal 18 on Harbor Island and a new, combined Terminal 25-30 in the Duwamish waterway.
   In addition, the commission authorized lease amendments with Cruise Terminals of America, which operates the port's cruise terminals at Pier 66 and Terminal 30.
   Port staff is investigating a major switch in the harbor, in which its cruise operations at Terminal 30 would be transferred to Pier 91, at the north end of Elliott Bay. If that change is made, Terminal 30 would be combined with Terminal 25 and reopened as a 70-acre container terminal.
   The new lease arrangements are seen as a key to the move, the port said, which could mean up to $120 million in new investment by the port. If approved later this year by the harbor commission, SSA Terminals would operate both Terminal 18 and the combined Terminal 25-30. Work would be completed in two to three years. SSA Terminals, an American company based in Seattle, is one of the largest privately held companies in Washington State and a worldwide operator of marine terminals.