New Orleans port commissioners approve Universal terminal lease
The New Orleans port commissioners approved a new five-year lease agreement with Universal Maritime Service Corp. to operate Berth 1 of the France Road Container Terminal.
Under the lease agreement, Universal has access to 36.6 acres of the terminal. Universal is a subsidiary of APM Terminals/A.P. Moller-Maersk Group.
Gary LaGrange, executive director and chief executive officer for the Port of New Orleans called the agreement a “huge day” for the port. “It was also important that we didn’t let another company get away,” he said.