San Francisco: APM Terminals (APMT) has closed its operations at the port of Jacksonville in Florida because of the knock-on effects of the economic crisis in Puerto Rico.
Branded the Americas’ scaled down version of Greece, Puerto Rico is wrestling with $72-bilion debt load and no clear path to repaying it.
The situation affects Jacksonville because the port in northeast Florida has substantial dealings with the island, which is a US territory in the Caribbean.
Closure of major shipper Horizon Lines at the end of last year was a big factor in APMT’s decision as Horizon was its major client in Jacksonville. Netherlands-based APMT is an international container terminal operating company.
Companies such as Crowley Maritime Corp and Sea Line have been handling the bulk of Puerto Rico’s cargo since the Horizon departure.
The Jacksonville Port Authority has transitioned to a new terminal operator for the site, Seattle, Washington-based SSA Marine.