The Diamond State Port Corporation (“DSPC”) and Dole Food Company have announced that they have reached an agreement in principle by which Dole will continue to use the Port of Wilmington for its cargo for the next 15 years.
The agreement in principle reached by the parties remains subject to negotiation of final documentation and approval by the boards of directors of both Dole and DSPC. If finalized in accordance with the terms, the agreement would govern Dole’s use of the Port of Wilmington for a 15 year term, and would give Dole two options for 10-year extensions. The agreement in principle includes terms governing Dole’s usage of the Port and commitments by the Port for capital improvements to meet Dole’s needs.
“We are pleased that Dole has agreed to stay in Delaware and remain an important part of the Port of Wilmington,” said Alan Levin, Chairperson of the Diamond State Port Corporation. “Dole had other options for its business, but keeping Dole in Wilmington is a priority for the Port and we worked hard to reach terms that would do that. This is a very competitive industry and our agreement reflects that.”
“Dole is pleased that we will continue to do business in Delaware for many years to come,” said Stuart Jablon, Vice President of Operations for Dole Fresh Fruit. “The agreement in principle that we have reached will enable Dole to remain competitive and position it well for future growth.”
“Dole is a big part of our Port family,” said Gene Bailey, Executive Director of the DSPC. “We are grateful for the support of the Governor and the General Assembly, which has allowed us to make the capital improvements we need to make to keep Dole and remain competitive with ports on the Delaware River and throughout the region.”