Holt Logistics wins terminal project

The South Jersey Port Corporation (SJPC) has appointed transportation and logistics company Holt Logistics to build a state-of-the-art marine terminal in Paulsboro, New Jersey, a project the state agency has been planning since 2006.

The facility, which will initially be 150 acres and possibly expanded to 190 acres, will be built on the site of the former Paulsboro BP oil refinery, which was shuttered more than a decade ago, according to a statement issued by Holt.

The state of New Jersey is funding the project – which includes preparing the site for the new facility, building a dedicated bridge and an off-ramp that connects directly to Interstate 295 – through bonds it issued worth $170 million.

Holt will invest an initial $10 million once the site is ready for the terminal to be built with larger investments expected as “the facilities and surrounding development areas reach their full potential,” according to the statement.

The logistics company, which also operates the Pier 5 port facility at the Broadway Marine Terminal in Camden, a facility that falls under the SJPC’s jurisdiction, has agreed to terminate its lease early in exchange for the opportunity to take on the Paulsboro marine terminal project. Instead, the Broadway terminal will be used for a new manufacturing facility that will be built by Holtec International, an energy technology company that is not affiliated with Holt Logistics despite the similar names.

The multi-purpose marine terminal, the first new terminal to be built in more than 30 years on the Delaware River, will increase shipping capacity for a range of commodities, including steel, forest products, project cargo, rolling stock and containers.

“World trade has rebounded and this region is one of the epicentres of a new phase of cargo opportunities for traditional and new commodities,” Holt Logistics’ president Leo Holt said.

The new facility, which is expected to be completed by 2016, is estimated to create more than 850 permanent jobs, according to the statement.

The South Jersey Port Corporation is a state agency with the authority to build and operate marine terminals in the seven southern counties of New Jersey. The SJPC currently manages and operates two deepwater marine terminals in the City of Camden on the Delaware River and a barge facility on the Salem River, in the City of Salem.