August 16 - Montreal, Canada headquartered Federal Marine Terminals (FMT) has agreed a new lease that will see it continue to provide terminal and stevedore services at the Port of Milwaukee.
FMT and Port of Milwaukee have already partnered for 17 years and the lease extension assures the presence of FMT at the gateway for a further five years, with the option to extend that agreement for an additional five.
Each year FMT serves dozens of vessels that move high value, breakbulk cargoes in and out of Milwaukee.
"With new terms incorporated in the renewal, incentives exist for both the port and FMT to increase cargo at the Port of Milwaukee," commented Paul Vornholt, acting port director.
"The great relationship and commitment between Federal Marine Terminals and the Port of Milwaukee has contributed to the additional five year option to the current lease," Michel Tosini, FMT's executive vice-president said. "Over the next five years, we project steady growth as we continue to collaborate on marketing efforts and resolve to find new mutually beneficial opportunities."