Vancouver: Yesterday saw the grand opening of GCT Global Container Terminals’ newly expanded, semi-automated facility in Bayonne, New Jersey. GCT claims the updated port will be the most advanced on the whole of the US East Coast.
Headquartered in Vancouver, GCT operates four container terminals through three principal businesses in North America: TSI Terminal Systems in Vancouver and Delta, British Columbia; New York Container Terminal on Staten Island, New York; and Global Terminal & Container Services in Bayonne, New Jersey. The terminals are controlled by the Ontario Teachers’ Pension Fund, who bought the facilities off Hong Kong’s OOIL in 2007.
The expansion at Bayonne’s Global Terminal comprises a 274 m berth extension to total 823 m, 20 automated rail mounted gantries, a brand new in and out gate complex supported by OCR and RFID, two further ship to shore cranes.
“For shippers these provide higher crane and berth productivity to allow ships to turnaround faster than competitor terminals, greatly improved and harbour leading gate to gate turn times for trucks and an ability for shipping lines to bring their largest ships to New York,” says GCT group ceo Stephen Edwards.
Further expansion is also planned at all the other GCT terminals, says Edwards, whose past career includes six years at P&O Nedlloyd and four years as head of Ports America.
The ports expert is adamant that the right port assets are still seeing valuations head north.
Valuations for port assets are dependent on a number of factors, Edwards explains. Some require considerable investment or consolidation to meet the needs of larger ships and the formation of vessel sharing agreements.
“For those that are equipped to meet customer needs and are located in key ports – as ours are – we see valuations rising presently,” he concludes. [19/06/14]