Texas port explores options for terminal project
The gulf port of Corpus Christi in Texas has decided not to extend a contract that gave Spanish operator Dragados SPL exclusive negotiating rights regarding the proposed La Quinta Container Terminal.
The memorandum of understanding, signed in November 2005, prevented the port from negotiating with other operators regarding the $400 million container terminal project.
Port authorities signed the memorandum a year after negotiations with International Container Terminal Services Inc (ICTSI) fell through.
Reports say that since the memorandum was signed, negotiations exclusivity had been extended twice to allow a finalization of contract for Dragados to build, operate and maintain the terminal.
The contract expires on Wednesday after a futile 20 months of active discussions but Dragados officials have expressed to the port authorities their continued interest in future Corpus Christi projects.
The port will now be embarking on a market analysis study which is expected to be presented to commissioners in August.
“We need to get more information on the current market and our goal is to be competitive and not be tied to one exclusive operator,” said port chairman Ruben Bonilla.
“Dragados is a great company and we will remain in communication with them, but if other companies are interested, we encourage them to step up,” he added.
The La Quinta Container Terminal project has been dubbed the 'La Quinta Trade Gateway' and has a primary focus to be a multi-intermodal container terminal to service importers and exporters in Mexico, Texas and central US states.
Port authorities said the project will open up a new port of entry for cargo that is now congesting terminals on the West Coast.
“It is an accepted fact that there is a very urgent need to build new container terminals in both the US and even Canada,” said Bonilla.
“We believe the La Quinta project will address that dramatic need,” he added.
The memorandum of understanding, signed in November 2005, prevented the port from negotiating with other operators regarding the $400 million container terminal project.
Port authorities signed the memorandum a year after negotiations with International Container Terminal Services Inc (ICTSI) fell through.
Reports say that since the memorandum was signed, negotiations exclusivity had been extended twice to allow a finalization of contract for Dragados to build, operate and maintain the terminal.
The contract expires on Wednesday after a futile 20 months of active discussions but Dragados officials have expressed to the port authorities their continued interest in future Corpus Christi projects.
The port will now be embarking on a market analysis study which is expected to be presented to commissioners in August.
“We need to get more information on the current market and our goal is to be competitive and not be tied to one exclusive operator,” said port chairman Ruben Bonilla.
“Dragados is a great company and we will remain in communication with them, but if other companies are interested, we encourage them to step up,” he added.
The La Quinta Container Terminal project has been dubbed the 'La Quinta Trade Gateway' and has a primary focus to be a multi-intermodal container terminal to service importers and exporters in Mexico, Texas and central US states.
Port authorities said the project will open up a new port of entry for cargo that is now congesting terminals on the West Coast.
“It is an accepted fact that there is a very urgent need to build new container terminals in both the US and even Canada,” said Bonilla.
“We believe the La Quinta project will address that dramatic need,” he added.