Logistec announces Notice of Termination from Termont Terminal customers

Logistec Corp.‘s 50%-owned Termont Terminal Inc., an intermodal container-handling terminal at the Port of Montreal, has been notified of the termination of the vessel-sharing agreement between its three main partners.

In a news release, Logistec said the end of the agreement, “puts Termont in a very fragile position with a strong risk of having no customers in the coming months.”

It said Termont is a joint venture with an unidentified US-based terminal operator.

Logistec said it isn’t yet in a position to evaluate whether any of these customers will continue to call Termont and can’t say what impact the situation will have on its future financial results.

Logistec provides cargo-handling and other services to the marine and industrial sectors. It handles cargo at 23 ports. (Dow Jones & Company, Inc.)