Business, Feature, Freight News, Rail, Sea

Port NOLA, Kearney Companies Extend Lease

[ April 19, 2024   //   Gary G Burrows ]

The Port of New Orleans said it has reached a new 10-year lease arrangement with The Kearney Companies Inc., marking a milestone in the longstanding relationship between port, The Kearney Companies, and the New Orleans Public Belt Railroad.
The new consolidated lease agreement extends The Kearney Companies’ lease beyond the last 20 years, and includes four rail-served transit sheds located on France Road and a rail-served storage facility at Jourdan Road, which the company originally leased and refurbished significantly in 2016.
The Kearney Companies has committed to making capital investments through Port NOLA-approved facility upfits and improvements, and a shared commitment to investing in Port NOLA’s infrastructure to ensure facilities meet customer needs well into the future, while also supporting cargo growth and fostering continued job creation in the region.
“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,” said David Kearney president of The Kearney Companies. “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.”
“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. NOPB provides rail service to its facilities and connects to all six U.S. Class I railroads: BNSF, CPKCS, CN, CSX, NS and UP.
The Kearney Companies’ operations with NOPB have reached 3,000 carloads per year and are continuing to grow. Additionally, The Kearney Companies handles nearly 20,000 20-foot equivalent units annually and supports about 65 full-time jobs.

Tags: Port of New Orleans, The Kearney Companies Inc.