"At the time we had a lease so we weren't the operator," he said, "and we are operators."
APM's senior vice president for law and regulatory affairs.
company, Virginia International Terminals, in charge.
"As is often the case APMT explored a sale and nothing came of it," said John Crowley, Nike Shoes Dark Grey
APM tried to sell off its Portsmouth terminal
APM is not currently an operator in Hampton Roads, though it keeps its company headquarters at its Portsmouth facility. But its bid would make it the operator again at its Portsmouth facility and at state facilities in Newport News, Norfolk, Portsmouth and Warren County.
that facility to the state. A company official said the lease explains both the attempted sale and the more recent effort to buy operating rights from the state. Moller Maersk, had plowed $540 million into developing the highly automated, deepwater port on the Elizabeth River in 2007. Three years later it inked the lease deal that put the state's nonprofit operating Nike Shoes Red 2018
"They hadn't gotten what they thought it was worth, and since they didn't sell it they decided maybe they could come back in and operate all the ports," said Mike Quillen, VPA board chair.
Back when APM was seeking buyers for its terminal, the company was in its second year of a 20 year lease that gave control of Nike Shoes 2018 For Girls Black
Had the deal gone through, the state would no longer be on the hook for rent payments that, when adjusted for inflation, average about $57.75 million a Nike Shoes Grey year over the course of the lease. The agency estimated last year the state would lose $11 million as a result of the lease in its first two years.
APM submitted a bid to take over the ports, which it says is worth between $3.1 billion and $3.9 billion to Virginia.
Buying out the lease would have ended the rent payments, and made VIT the only container terminal operator in the region for the foreseeable future. But the state's offer didn't cut it for APM.
Before bidding to run state ports, APM tried to sell off its Portsmouth terminalIn the fall of 2011 APM Terminals wanted to sell its state of the art container terminal in Portsmouth. Today the terminal operator is positioning itself to run all of the state port facilities in Hampton Roads.
When the facility went on the market, the commonwealth was one of two buyers who made offers for it. The state reportedly put up an amount greater than $540 million.
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