The Port of New Orleans (Port NOLA) has announced a new 10-year lease arrangement with The Kearney Companies, a subsidiary of Precision Terminal Logistics (PTL), reports Port Technology.
This new lease marks a significant milestone in the longstanding relationship between Port NOLA, The Kearney Companies, and the New Orleans Public Belt Railroad (NOPB), which provides rail service to its facilities and connection to all six Class 1 Railroads.
The new, 10-year, consolidated lease agreement will allow The Kearney Companies to grow and invest in properties that have been continually leased for the last 20 years.
The leased facilities include four rail-served transit sheds and a rail-served storage facility which The Kearney Companies originally leased and refurbished significantly in 2016. Read more.
