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The Port of Portland says it cannot afford to keep the state’s only shipping container terminal open past September after a deal with a third-party operator fell through. Despite more business, costs have gone up, pushing the port’s container facility into the red.
The Port of Portland has lost more than $30 million during the past three years, the agency stated in a news release last month. That includes a projected $14 million shortfall for this year.
As someone who works near the port, this is gonna be interesting, its been slow as hell here for the past few years.