U.S. terminal operator Ports America and Sydney Harbour Investment Partners have announced an agreement for the promotion, development and management of the proposed Novaporte deepwater mega-port in Sydney Harbour, Nova Scotia capable of accommodating the world’s largest ships.
Sydney Harbour Investment Partners, or SHIP, is a private company with exclusive development rights to the approximately 500 acres at the Port of Sydney. Now with the support of Ports America and a specially formed development group, they plan build a dedicated, semi-automated, deep-water marine container facility capable of handling 18,000+ TEU Ultra Large Container Vessels.
Building of the mega-port is subject to gaining enough volume commitments from customers.
A joint press release on Monday said under the agreement Ports America’s management team will apply its proven business development and growth strategies while marketing the Novaporte terminal as a Ports America-managed facility to attract new customer and investor relationships. Ports America will also advise on the operational configuration of the terminal in order to maximize its efficiency.
Last but not least Ports America will manage and operate the terminal for a term of 40 years, providing services such as full stevedore and terminal labor management, terminal operating systems, and maintenance and repair.
“Novaporte is a uniquely located deep water port able to handle the largest of the next generation of ultra-large container vessels,” said Peter Ford, Chief Strategy Officer at Ports America. “Geographically, it is the first stop for vessels on the Great Circle Route from Europe and Asia via the Suez. It has abundant land, an adjacent 1,200-acre logistics park and is located in a foreign trade zone. Add to that abundant power, road and rail, as well as a skilled work force, and you have the makings of an East Coast gateway for the next generation of super ships.”
Once initiated construction on the mega-port is expected to take approximately two years to complete.
The Novaporte website says the project is “shovel-ready”, with “all permits in place” and “strong support from Canadian municipal, provincial and federal government officials.” Construction is expected to begin following completion of a feasibility study and when contracts are in place with one or more major shipping lines, according to the website.
Ports America is the largest U.S. terminal operator and stevedore with operations in 42 ports and 80 terminals, handling more than 13.4 million TEUs in 2015.