Thursday, March 29, 2018

Watco acquires assets to Industrial Terminals

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Watco Companies, LLC, the owner and operator of Greens Port Industrial Park, has acquired the assets of Industrial Terminals, L.P. Watco Companies, LLC, the owner and operator of Greens Port Industrial Park, has acquired the assets of Industrial Terminals, L.P. Watco

Watco Companies, LLC, the owner and operator of Greens Port Industrial Park (Greens Port), located on the Houston Ship Channel, has acquired the assets of Industrial Terminals, L.P.

 

 

Officials announced March 27 that Watco has entered into a long-term lease for the use and operation of the Industrial Terminals facility. Industrial Terminals is located on the Houston Ship Channel and is directly adjacent to the Greens Port location.

Simultaneously, Watco and Intermarine, LLC, through its operating company Industrial Maritime Carriers, LLC (IMC), have entered into a long-term agreement for Watco to provide stevedoring and terminaling services for Intermarine, LLC, and its customers, officials said.

Watco has executed an agreement for Gulf Stream Marine, Inc., to provide stevedoring and terminaling services at the facility, as well, which they have been doing since 2004.

The Industrial Terminals facility includes three deep-water berths, which are specifically designed for heavylift and breakbulk cargo. The facility also features more than 90 acres of cargo marshaling and storage area.

The facility has direct rail and truck access alongside the ship berths, in addition to a barge terminal. Greens Port spans 655 acres, with more than three million square-feet of warehouse space, access to multiple Class 1 rails and several deep-water barge and vessel berths.

"The combination of Industrial Terminals' assets and Greens Port's assets provides Greens Port with additional berthing and yard capacity, and an unparalleled asset base which will allow Watco to further expand its service offerings to Houston Customers," officials said.

Watco also noted Greens Port's connectivity to the Union Pacific, BNSF and Kansas City Southern networks in addition to Watco's 87 ports and terminals, 36 North American shortline railroads and its 31 railcar repair shops.