Port of New Orleans Signs 10-Year Lease Agreement with The Kearney Companies
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Image generated with AiToday, the Port of New Orleans (Port NOLA) unveiled a fresh 10-year lease pact with The Kearney Companies, Inc. (The Kearney Companies), a branch of Precision Terminal Logistics (PTL). This renewed lease signifies a major milestone in the enduring partnership among Port NOLA, The Kearney Companies, and the New Orleans Public Belt Railroad (NOPB), which furnishes rail services to its sites and links them to all six Class 1 Railroads (BNSF, CPKCS, CN, CSX, NS, and UP).
The new, decade-long consolidated lease contract will empower The Kearney Companies to expand and invest in properties they’ve continuously leased for the past two decades. These leased properties comprise four rail-connected transit sheds situated on France Road and a rail-linked storage facility at 3900 Jourdan Road, which The Kearney Companies originally leased and extensively renovated in 2016.
“Our longstanding partnership with The Kearney Companies is a prime example of how Port NOLA delivers seamless, integrated logistics solutions between river, rail and road,” said, Brandy D. Christian, President and CEO of the Port of New Orleans and CEO of the New Orleans Public Belt Railroad. “We appreciate the continued commitment of The Kearney Companies and PTL and look forward to strengthening our partnership in future endeavors.”
As part of the new lease agreement, The Kearney Companies have pledged to invest in capital improvements for Port NOLA-approved facility upgrades. This financial dedication underscores a mutual commitment to enhancing Port NOLA’s infrastructure, guaranteeing that these facilities can meet current customer demands for years to come. Additionally, it supports the growth of cargo operations and promotes ongoing job opportunities in the area.
“Our longstanding partnership with the Port of New Orleans has been a great success story that we are very proud of as a local company with many ties to the Louisiana port community. The real success of this partnership with Port NOLA, however, is measured in terms of the competitive advantages we enable for each specific shipper’s supply chain and the sustainable jobs that we create in this process of using these terminals to support these customers’ various logistical needs. It feels great when you look back over the last 20 years and you see the growth in new customers that these facilities support. We have continually invested in our service capabilities and logistics capacity to facilitate cargo growth for Port NOLA and the NOPB Railroad. With the consolidated lease, we look forward to continuing to invest in these facilities so we can support our customers well into the future,” said David Kearney, President of The Kearney Companies, Inc.
The partnership between The Kearney Companies and NOPB has now hit a milestone of 3,000 carloads per year and is on a steady growth trajectory. Moreover, The Kearney Companies manages nearly 20,000 twenty-foot equivalent units each year, contributing to the employment of around 65 full-time positions spanning office/clerical, trucking, and warehouse roles.
