Port of Tacoma approves settlement over canceled NYK terminal

by Tim Flanagan on May 27, 2011

JOHN GILLIE has the story in the Tacoma News Tribune:

The Port of Tacoma and a Japanese shipping line have reached agreement on the costs involved with the port’s canceled plan to build a massive shipping terminal for the company on the port’s Blair Waterway.

Port of Tacoma commissioners at Thursday’s noon commission meeting approved a settlement that will provide the port $5.75 million for costs it incurred for design and development work on a 168-acre terminal for NYK Lines. The port and the Japanese shipping line canceled their agreement to build the terminal in 2009 after the recession cut shipping volumes and shipping line and port profits.

Read more: http://www.thenewstribune.com/2011/05/27/1682275/port-approves-settlement-over.html#ixzz1NZK6Bb19

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