AmericasPorts and Logistics
MSC’s Seattle port deal questioned
The Port of Seattle has demanded Mediterranean Shipping Co (MSC) pay a security deposit before it takes over the running of Terminal 46, sold by bankrupt Hanjin Shipping.
The port has asked a judge to block the sale until MSC pays a one-year lease charge of $11.25m.
MSC and its subsidiary Terminal Investment Limited agreed in December to pay $78m to purchase Hanjin’s controlling stake in Total Terminals International, which controls terminal operations in Long Beach and Seattle.