The Port of Portland, grappling with significant financial setbacks, is reaching out to the state for a $10 million cash infusion. The funds are aimed at keeping its Terminal 6, the only international shipping container terminal in Oregon, afloat amid rising losses which are projected to hit $14 million this year.
As reported by OregonLive, the request was pitched to legislators on Tuesday in anticipation of the upcoming February legislative session. Terminal 6 is not only crucial for the local economy, relying on its imports and exports, but also sustains over 1,500 jobs and generates substantial tax revenue. Despite this, a court found the ILWU local guilty of sabotaging operations, contributing to the port's decline.
The executive director of the port, Curtis Robinhold, made clear the severity of the situation, "Without other funding to offset ongoing losses associated with container operations, we will be forced to begin conversations about ending container service at T6," as originally disclosed in a letter, a copy of which was obtained by Splash 247. These operations are integral to a range of industries from agriculture to retail, and handle large freight items beyond shipping containers.
Alongside these financial challenges, the port claims continued support for its strategic value. "Given the strategic nature of this service for the state and the clear public benefit, the port has endured financial losses so the terminal would remain available for Oregon importers and exporters," Robinhold stated in the letter, not only reflecting the port's commitment but highlighting its unsustainable financial trajectory. This predicament has been worsened since Manila-based International Container Terminal Services, Inc. abandoned the port in 2017, as noted by a recent article in the Oregon Capital Chronicle.
Amidst this call for emergency funding, assurances have been made that Terminal 6 will continue its operations in some capacity. "It’s important to know that no matter what happens with containers in the future, T6 will remain a working marine terminal," Robinhold emphasized in correspondence to lawmakers. With the legislative session looming, the fate of the terminal and its substantial economic impact hangs in the balance, resting on the response from state lawmakers to the port's plea.
