After months of financial and operational uncertainty, the Port of Portland (Oregon) has completed a long-term agreement that will secure the future of Terminal 6, the state’s only international container terminal. The deal with Harbor Industrial Services, a stevedore and equipment services firm based in California, ensures that container operations will continue under third-party management, according to Maritime Executive and local media.
Terminal 6, located about 100 miles upriver along the Columbia River from the Pacific Ocean, was at risk of closure earlier in 2024 due to mounting losses and failed operator negotiations.
Under the deal, Harbor Industrial will lease Terminal 6 from the Port of Portland under a multi-year arrangement. The lease agreement includes the sale of existing ship-to-shore cranes and related equipment for a nominal price of $150,000.
The state has committed about USD 20 million in investments to upgrade terminal infrastructure, complemented by near-term support of USD 5 million to cover ongoing losses and avoid service interruption.
“The Port of Portland is the gateway connecting our farms, small businesses, and manufacturers to global markets,” noted Representative Shelly Boshart Davis.
The port had reported losses of around USD 30 million over recent years in its container operations, driven by declining volumes, competition from larger ports in Washington and California, and historical labor disputes.
To address this, the Port of Portland along with Harbor Industrial are tasked with improving operational efficiency, modernizing equipment, and stabilizing traffic flows. The new operating model is expected to reduce cost burdens on local exporters who had considered shifting to other terminals due to service risk.
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