The Itawamba County (Miss.) Board of Supervisors heard contract terms between Port Itawamba and Federal Marine Terminals (FMT) at its May 3 meeting. Casey Franks, executive director of the Itawamba County Port Authority, told the board that the new 3-year lease agreement would not include any payments for the first two years. Franks called FMT a new business venture that needed an opportunity to build its clientele. After those two years, FMT will pay a $3,000/month lease and a wharfage fee of 55-cents a ton. FMT will have the option to renegotiate at the end of the contract. When it comes to the barges, according to FMT’s April media release, the firm will be handling a variety of commodities: Steel, bulk, forest products, and project cargoes while exploring more opportunities. The company currently has 13 terminals on the East Coast, Gulf of Mexico, Great Lakes, and the Arctic. “If they do good, we do good,” Franks is quoted. Port Itawamba’s container-on-barge service represents a $4.2M-investment for the county. The new lease comes after SEACOR AMH ended its 9-year contract last July. In late 2013, SEACOR initially paid $8,000/month to lease Port Itawamba. The amount was later increased to $28,000/month. (Source: Itawamba Times 05/12/21) Supervisors discuss finalized Port Itawamba lease | Itawamba Times | djournal.com
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