Saving Grace
2 months ago
Port of Portland reverses decision to end cargo container handling as Gov. Tina Kotek proposes $40 million infusion
Gov. Tina Kotek on Thursday proposed $40 million in state funding to continue shipping container service at the Port of Portlandβs Terminal 6, an announcement which the port said will avoid a planned end to container operations on Oct. 1.
The proposed funding is part of an effort to keep the terminal open for the long term.
In April, the port said it would end container service after an effort to lease the terminal to a third-party fell through. The port on Thursday said the proposed funding means container service will continue.
The portβs container business lost $13 million in each of the last two years and the port expected much the same next year, Curtis Robinhold, the portβs executive director, previously said.
Kotekβs proposal includes $35 million from her 2025-2027 proposed budget and $5 million in funding that will be requested at the September meeting of the state Legislatureβs Emergency Board. Both would need lawmakersβ approval.
βAfter the Port of Portlandβs April announcement that container service would end this October, I heard from scores of producers throughout Oregon that relied on Terminal 6 to ship their goods,β Kotek said in a press release. βHaving represented the Portβs home district in the Oregon Legislature for many years, I understand that the terminalβs location makes container operations at Terminal 6 economically challenging.β
In addition to the proposed funding, Kotek sent Robinhold a letter in which she asked port officials to figure out a way to make the terminal βsustainable for the long-term.β She expects a report to that effect by Aug. 23.
βWeβre grateful for Governor Kotekβs declaration of support, and her commitment to maintaining this important piece of our economy,β Robinhold said in the governorβs press release. βWe are also extremely grateful for the strong backing from a bipartisan group of legislators who recognize the value of trade to businesses and communities throughout our state.β
https://www.oregonlive.com/business/2024/05/gov-kotek-proposes-40-million-to-continue-cargo-container-service-at-terminal-6.html
https://www.tytantractor.com/
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=64822081
Anvil
4 months ago
There is a guy, Paul Strickland, involved with Tytan, per filings. Do a little DD pn him, he owns many pink shells, all end be pump and dumps. Honsestly, I don't think is smart enough to run a public, or even, a private company. Remeber when he finally agreed to go to a trade show? Then those oil filter boxes. I do think there will be a change of ownership upcoming, which should provide a nice pop, but then get out.