By Karen Robes Meeks
The Port of Oakland recently received A ratings from Fitch Ratings on its bonds, including an A+ rating for $622 million in senior lien revenue bonds, an A rating for $181.9 million in intermediate lien revenue bonds, and an A rating for underlying bank bonds for the Port's commercial paper (CP) notes.
According to the port, the ratings were given based “on the strength of the port’s sizable origin and destination enplanement base and financial stability provided by long-term seaport contracts supporting cargo operations within a large, economically diverse and wealthy San Francisco Bay Area market.” A strong balance sheet, high debt service coverage ratios, and diverse revenue streams were also taken into account.
Friday, February 28, 2020
Port of Long Beach Presents Pulse of the Ports
By Karen Robes Meeks
A panel of experts from the maritime industry are expected to share their thoughts and present their forecasts at the Port of Long Beach’s 2020 Pulse of the Ports – Peak Season Forecast next month.
The port has not yet released the list of speakers for the annual gathering that will take place on March 25 at The Westin’s Centennial Ballroom, 333 E. Ocean Blvd. in Long Beach, Calif. The event will include free breakfast and parking and an opportunity for networking starting at 7:30 a.m. The official program will start at 8:15 a.m.
Those who can’t attend in person can join the meeting online through the live webcast by going to polb.com/pulse. Reservations are required for the event. Contact the Port's Business Development Division at 562-283-7750 or email BDEvents@polb.com to reserve your spot. Visit www.polb.com/pulse for more information.
A panel of experts from the maritime industry are expected to share their thoughts and present their forecasts at the Port of Long Beach’s 2020 Pulse of the Ports – Peak Season Forecast next month.
The port has not yet released the list of speakers for the annual gathering that will take place on March 25 at The Westin’s Centennial Ballroom, 333 E. Ocean Blvd. in Long Beach, Calif. The event will include free breakfast and parking and an opportunity for networking starting at 7:30 a.m. The official program will start at 8:15 a.m.
Those who can’t attend in person can join the meeting online through the live webcast by going to polb.com/pulse. Reservations are required for the event. Contact the Port's Business Development Division at 562-283-7750 or email BDEvents@polb.com to reserve your spot. Visit www.polb.com/pulse for more information.
Tuesday, February 25, 2020
Port of Grays Harbor Commission Approves Nine Lease Assignments
By Karen Robes Meeks
Nine leases held by Masco Petroleum, Inc. will go to PetroCard, Inc. The Port of Grays Harbor Commission approved the assignment at a special commission meeting Feb. 18.
Masco has been a tenant at the port providing card lock facilities, bulk fuel delivery, lubricant distribution and marine fueling services in the peninsula since 1999. Kent-based PetroCard anticipates closing on its acquisition of Masco assets by the end of this month, according to the port.
“We entertained this acquisition offer from PetroCard because they run a business the way a business should be run, not like a [typical] corporation,” Masco Founder and President Jim Mason told the port. “Employment in Grays Harbor is important to them, just like it is important to us.”
PetroCard runs over 60 card lock facilities in Washington and Oregon.
“We see Masco’s operation as a great fit for our network and look forward to maintaining the local knowledge and relationships they have established throughout the Olympic Peninsula,” said PetroCard President and CEO Laura Yellig.
Nine leases held by Masco Petroleum, Inc. will go to PetroCard, Inc. The Port of Grays Harbor Commission approved the assignment at a special commission meeting Feb. 18.
Masco has been a tenant at the port providing card lock facilities, bulk fuel delivery, lubricant distribution and marine fueling services in the peninsula since 1999. Kent-based PetroCard anticipates closing on its acquisition of Masco assets by the end of this month, according to the port.
“We entertained this acquisition offer from PetroCard because they run a business the way a business should be run, not like a [typical] corporation,” Masco Founder and President Jim Mason told the port. “Employment in Grays Harbor is important to them, just like it is important to us.”
PetroCard runs over 60 card lock facilities in Washington and Oregon.
“We see Masco’s operation as a great fit for our network and look forward to maintaining the local knowledge and relationships they have established throughout the Olympic Peninsula,” said PetroCard President and CEO Laura Yellig.
Revised Canada-US Marine Pollution Contingency Plan Signed
By Karen Robes Meeks
On Feb. 19, US and Canadian Coast Guard officials signed an updated version of the Dixon Entrance Annex to the Canada-United States Joint Marine Pollution Contingency Plan in Juneau, Alaska.
The refreshed annex signed by US Coast Guard 17th District Commander Rear Adm. Matthew T. Bell, Jr., and the Canadian Coast Guard Western Region Assistant Commissioner Roger Girouard includes basic content and format changes in accordance with new national guidelines. It also provides clearer pollution notification and response protocols as well as refreshed references to US Customs Service procedures for transboundary movement of personnel and resources.
Since 1983, both countries have abided by the CAN-US Joint Marine Pollution Contingency Plan, which encompasses five geographic annexes and spells out the scope and terms for planning and coordinating responses to transboundary pollution in the maritime domain. Coast Guard 17th District and its Canadian counterpart collaborate to keep up with two of the annexes: Annex 4 (Beaufort Sea) and Annex 5 (Dixon Entrance).
On Feb. 19, US and Canadian Coast Guard officials signed an updated version of the Dixon Entrance Annex to the Canada-United States Joint Marine Pollution Contingency Plan in Juneau, Alaska.
The refreshed annex signed by US Coast Guard 17th District Commander Rear Adm. Matthew T. Bell, Jr., and the Canadian Coast Guard Western Region Assistant Commissioner Roger Girouard includes basic content and format changes in accordance with new national guidelines. It also provides clearer pollution notification and response protocols as well as refreshed references to US Customs Service procedures for transboundary movement of personnel and resources.
Since 1983, both countries have abided by the CAN-US Joint Marine Pollution Contingency Plan, which encompasses five geographic annexes and spells out the scope and terms for planning and coordinating responses to transboundary pollution in the maritime domain. Coast Guard 17th District and its Canadian counterpart collaborate to keep up with two of the annexes: Annex 4 (Beaufort Sea) and Annex 5 (Dixon Entrance).
Port of Los Angeles Christens New Patrol Vessel
By Karen Robes Meeks
The Port of Los Angeles Police recently welcomed the arrival of its new 43-foot patrol and dive vessel. It will aid the specialized dive team operations and overall patrol around the port.
“Policing and ensuring the flow of commerce in America’s busiest port is a daunting task,” Port Police Chief Thomas Gazsi said at the boat’s christening. “It requires the best personnel, exceptional training programs, exceptional allied partners… and the best possible equipment to accomplish those missions and support our personnel in those endeavors.”
“This new vessel accomplishes that,” Gazsi said. The 28-ton vessel features night vision, wireless communications, advanced navigation as well as nuclear, chemical and biological detection equipment.
The Port of Los Angeles Police recently welcomed the arrival of its new 43-foot patrol and dive vessel. It will aid the specialized dive team operations and overall patrol around the port.
“Policing and ensuring the flow of commerce in America’s busiest port is a daunting task,” Port Police Chief Thomas Gazsi said at the boat’s christening. “It requires the best personnel, exceptional training programs, exceptional allied partners… and the best possible equipment to accomplish those missions and support our personnel in those endeavors.”
“This new vessel accomplishes that,” Gazsi said. The 28-ton vessel features night vision, wireless communications, advanced navigation as well as nuclear, chemical and biological detection equipment.
Port of Long Beach Seeks Community Sponsorship Applicants
By Karen Robes Meeks
The Port of Long Beach is inviting nonprofit groups to apply for its Community Sponsorship Program, which aims to fund local activities that raise awareness about the port.
Applicants can start submitting their funding requests on March 1. All applications must be turned in by no later than 5 p.m. on March 31. Recommendations will be forwarded to the Board of Harbor Commissioners for consideration within 45 days. Results will be announced in May for events set to take place June 1 or later.
According to the port, applications are judged on how the proposed events and activities can help the port inform the community of its critical role as an economic engine and job creator.”
For more information, visit www.polb.com/sponsorship.
The Port of Long Beach is inviting nonprofit groups to apply for its Community Sponsorship Program, which aims to fund local activities that raise awareness about the port.
Applicants can start submitting their funding requests on March 1. All applications must be turned in by no later than 5 p.m. on March 31. Recommendations will be forwarded to the Board of Harbor Commissioners for consideration within 45 days. Results will be announced in May for events set to take place June 1 or later.
According to the port, applications are judged on how the proposed events and activities can help the port inform the community of its critical role as an economic engine and job creator.”
For more information, visit www.polb.com/sponsorship.
Friday, February 21, 2020
California Ports Day “Call to Action”
By Karen Robes Meeks
This week, leaders from nearly a dozen California ports met with state officials for California Ports Day and urged them to help ports stay competitive in a challenging global market.
“Despite the headwinds we face, including market share loss, the US-China stand-off on trade, and the uncertainty that the coronavirus has brought to global trade, California ports are well-positioned to meet these challenges because we are innovators,” said Gene Seroka, president of the California Association of Port Authorities (CAPA) and executive director of the Port of Los Angeles. “Today was a call to action for port stakeholders to align with our state leadership to make certain that our ports remain at the center of Western Hemisphere trade.”
CAPA State Director Martha Miller said the port was “about raising awareness of the economic and environmental leadership ports bring to our state.”
“The goal is to get legislators and our fellow Californians thinking about where their food, clothing, automobiles, smartphones, and maritime services come from,” she said. “The more we trade, the more we need to invest in strong and efficient ports in our state.”
This week, leaders from nearly a dozen California ports met with state officials for California Ports Day and urged them to help ports stay competitive in a challenging global market.
“Despite the headwinds we face, including market share loss, the US-China stand-off on trade, and the uncertainty that the coronavirus has brought to global trade, California ports are well-positioned to meet these challenges because we are innovators,” said Gene Seroka, president of the California Association of Port Authorities (CAPA) and executive director of the Port of Los Angeles. “Today was a call to action for port stakeholders to align with our state leadership to make certain that our ports remain at the center of Western Hemisphere trade.”
CAPA State Director Martha Miller said the port was “about raising awareness of the economic and environmental leadership ports bring to our state.”
“The goal is to get legislators and our fellow Californians thinking about where their food, clothing, automobiles, smartphones, and maritime services come from,” she said. “The more we trade, the more we need to invest in strong and efficient ports in our state.”
