Sea shipper preparing for $160 million expansion
By Lou Ortiz
The Port of Miami has struck a $160 million deal with ocean cargo company Seaboard Marine that will result in a new maintenance area and export garage at the facility, Port Director Bill Johnson says.
The Seaboard garage and maintenance projects will encompass the company's 70 acres at the port and are expected to help increase cargo volume, Mr. Johnson said last week.
Seaboard will pump "tens of millions of dollars" into the projects over 10 years, he said, and "it will be a huge deal for the Port of Miami."
Seaboard, with 41 vessels, serves Central and South America, the Caribbean, and other ports in the US.
Company officials could not be reached for comment.
The agreement between the port and Seaboard has not been completed and what each party's financial obligations will be has not been fully determined, said port spokeswoman Andria Muniz-Amador.
Mr. Johnson said the port is also in negotiations to ink long-term deals with its two other sea transport companies, the Port of Miami Terminal Operating Company (POMTOC) and The A.P. Moller — Maersk Group.
POMTOC, which has 30 sea transports, serves the East Coast of the US as well as Latin America and the Caribbean.
A.P. Moller, headquartered in Copenhagen, Denmark, is involved in sea transportation around the world, with more than 500 ships.
Seaboard Marine, established in 1983 and headquartered at 8001 NW 79th Ave., says it has more than 70 sailings monthly from the Port of Miami. "We carry more cargo to and from the Port of Miami than any other carrier," Seaboard says on its Web site.
Mr. Johnson has not yet released freight revenue figures for the most recent fiscal year.