“Working together with our partners at Ports America Chesapeake, we have opened a new chapter for the Port of Baltimore,” said Governor O’Malley. “This new 50-foot container berth has already created thousands of jobs for Maryland families in its construction and will continue to do so when the first mega-ship visits Baltimore after its completion. Today, we are all reminded of the challenges we have turned into economic opportunity for Maryland’s future.”
More than 120 companies that do business at the Port of Baltimore attended the event, including maritime container companies and firms involved in logistics, manufacturing, retail, and parts supply.
The 50-foot container berth is scheduled to be completed in August 2012. The project will support 5,700 jobs and, when completed, accommodate larger ships and attract more cargo to Baltimore. With the completion of the Panama Canal expansion in 2014, it is expected that a larger number of ships, including new supersized ships, will travel to East Coast ports to reach customers more quickly and more economically. The 50-foot berth is a key element of the 50-year agreement between the MPA and Ports America Chesapeake to lease and operate the state-owned 200-acre Seagirt Marine Terminal. Under the agreement, Ports America Chesapeake took over operational control of Seagirt in January 2010. Ports America is also investing in other necessary infrastructure at Seagirt, saving the State hundreds of millions of dollars it would have had to invest in capital improvements. Ports America is also making annual payments to the State and providing ongoing revenues to the MPA.The Maryland Transportation Authority, as the previous owner of Seagirt, received an immediate payment of $140 million that it is investing in the system preservation of its existing road, bridge and tunnel facilities.
