Port of Halifax, Halterm sign 20-year lease

HALIFAX (Sept. 14, 2000) — The Halifax Port Authority (HPA) and Halterm Ltd., the port’s largest container terminal operator, reached an agreement on a 20-year lease. Terms of the agreement were not disclosed.

“Both of our organizations are extremely pleased that we were able to work through the difficult issues and reach a mutually beneficial resolution,” said David Bellefontaine, president and CEO of the Halifax Port Authority. “As everyone knows, these negotiations were arduous. But now that we have a commercial deal, the Port Authority and Halterm can work together to help make the Port of Halifax an even better place to do business.”

The Halifax Port Authority is responsible for developing, marketing, and managing its assets in the Port of Halifax. The economic impact generated by the Port in 1999 equated to over 8000 jobs representing $545 million in total income.

Halterm handled 165,000 containers in 1999 and employs over 250 workers. It recently invested $23.5 million in two new cranes designed to service large post-Panamax ships.