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Rail News: Union Pacific Railroad

UP gains operating lease to Tacoma port's intermodal yard

Last week, the Port of Tacoma Commission approved a lease and operating agreement with Union Pacific Railroad, which will begin handling containers at the port's south intermodal yard beginning later this year.
UP plans to expand its presence in Tacoma, Wash., by relocating domestic container service away from its Seattle Argo Intermodal yard to free up capacity for additional international business.

The Class I will receive a five-year lease from the commission with five one-year renewal options to gain access to 10 acres at the 17-acre south yard, one of four intermodal rail yards at the port. UP will guarantee a minimum of 35,000 lifts during the first year of operations and 45,000 lifts in the second year. The railroad expects to increase lifts by 5 percent each year thereafter.

"This agreement allows both Union Pacific and the port to utilize our respective assets more effectively to better serve our respective domestic and international customers," said John Kaiser, UP's vice president and general manager-intermodal, in a prepared statement.

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More News from 10/7/2008