DP World inks 50-year terminal lease agreement with BC’s Nanaimo Port
DP World and the Port of Nanaimo in British Columbia, Canada, have entered into a 50-year lease agreement for Nanaimo’s Duke Point Shipping Terminal.
The agreement is expected to deliver a long-term port-to-port solution for short-sea shipping between Nanaimo and Vancouver, as well as expand direct access from Nanaimo to global import/export markets via direct calls to Asia.
The agreement is part of a planned terminal expansion valued at approximately US$105 million. The project will entail the extension of the the existing berth from 182 meters to 325 metres and the construction of a new truck gate, warehouse, and administration and maintenance building.
The terminal’s existing diesel quay crane will be replaced with two 16 container-wide electric quay cranes while the container yard storage area will be increased, creating an overall terminal operational capacity of 280,000 TEUs.
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