April 2 - Intermarine LLC has entered into a sale and leaseback of Industrial Terminals, its breakbulk terminal on the Houston Ship Channel, which it claims is the largest project cargo terminal in the United States.
The company has entered into a 25-year leaseback agreement with an affiliate of Lexington Realty Trust for the sale and leaseback of the entire terminal facility.
Michael Dumas, vice president and chief financial officer, explained, "this financial arrangement will allow Intermarine to continue to grow its terminal and cargo operations in its core Houston market while retaining control of the facility until 2068, including three 10-year option periods."
At the same time, Intermarine has broken ground on its new, state of the art, Operations Center on the Houston Ship Channel, which will house Intermarine's entire technical, operations, traffic and terminal teams.
"This new Operations Center will enable us to continue our plan of growth and expansion, but more importantly it gets all of our operations, technical and traffic teams together in one location. It also sets a new industry standard with a dedicated customers education and viewing center where customers have a bird's eye view of their cargo anywhere across the 95 acre terminal," said Al Stanley, president and ceo.
Located on 95 acres (38.45 hectares) adjoining the Houston Ship Channel, Industrial Terminals, provides 2,055 ft (626.36 m) of deep water berths, a 1,500-ft (457.2-m) barge terminal, covered warehousing, a ro-ro area, ample rail and truck access, and extensive cargo marshalling areas. Multiple deep water and barge berths allow numerous vessels to be serviced simultaneously.
Stevedoring and terminal activities are provided by Gulf Stream Marine, Houston's leading general/project cargo handling company.
Inland heavy haulage transport can be provided by Mammoet USA, which maintains a depot of equipment at the facility.