Maher confirms COSCO deal

A press release from Maher Terminals added their company to the list of stakeholders in the Fairview Container port, wecloming the COSCO shipping line to the Northwest.

The Daily News presented the Maher perspective as part of Thursday's front page.

Maher welcomes deal with COSCO
The Daily News
Thursday, May 17, 2007
Page one

Maher Terminals confirmed yesterday that it too has completed an agreement with China Ocean Shipping Company (COSCO) to commence calling Maher's new container terminal at the Port of Prince Rupert.

According to Maher, COSCO will begin calling the terminal on a weekly basis during the 4th Quarter of 2007. Earlier this week, the Canadian National Railway company (CN) announced that it had also reached an Agreement with COSCO to provide rail service via the new Prince Rupert container terminal to key North American markets.

"Maher Terminals is delighted to welcome COSCO to the Port of Prince Rupert as its first ocean carrier container terminal customer. COSCO's commitment is a great vote of confidence in the viability of this new route and in the success of our partnership with CN, the Prince Rupert Port Authority, and the federal and provincial governments of Canada and British Columbia, all of whom are key stakeholders in the terminal's development," stated M. Brian Maher, Chairman and Chief Executive, Maher Terminals, LLC.

"The City of Prince Rupert and communities throughout the Northwest Corridor have been very supportive of this project from its early planning stages. We are pleased that with
this announcement these communities now have the opportunity to participate in the economic benefits of opening this new trade corridor."

The Port of Prince Rupert offers the shortest route between the Far East and North America, the deepest harbour in North America, and on dock access to CN's high capacity double stack rail network.

Phase 1 of the Prince Rupert container terminal project will provide an annual container handling capacity of 500,000 teus, which will be increased during Phase 2 to two million teus.
"Maher Terminals has a long and valued relationship with COSCO. We are pleased that COSCO has seized the opportunity to provide to its customers the benefit of the added transportation capacity that the Prince Rupert trade corridor will make available," said Don McBeth, Executive Vice President, Sales and Marketing, Maher Terminals, LLC.

Maher Terminals, LLC is headquartered in Berkeley Heights, NJ, currently operates the Port of NY/NJ's largest marine terminal, and has recently completed a $400 million modernization and expansion of its facility, container handling equipment fleet, and technology. Maher's NY/NJ operations provide import shippers with direct access to over 125 million consumers.