Cleveland Europe Express shows major increase in volume, while established maritime and development finance revenues also up substantially
CLEVELAND, OH (July 17, 2014) – The Port of Cleveland announced that its Cleveland-Europe Express, the dedicated monthly liner service that launched in April, had its best month to date in June. This start-up service doubled its revenues in June when compared to either April or May.
“The Port of Cleveland is booming and we are very encouraged by the performance of the new Cleveland-Europe Express service, which is still in its infancy,” said William D. Friedman, president and CEO. “The large increase in volume in June bodes well for the remainder of the year as we continue to offer companies and shippers throughout the interior U.S. a faster, more cost-effective and greener shipping alternative to Europe and the world.” 2014.07.17 Full Press Release
CLEVELAND, OH (May 21, 2014) – The Port of Cleveland’s Board of Directors today approved up to $110 million in bond financing to assist the American Greetings Corporation in building a new world headquarters at Crocker Park in Westlake.
American Greetings is a manufacturer and retailer of innovative social expression products, such as greeting cards, gift packaging and other party goods. One of the world’s largest greeting card producers and founded in Cleveland more than 100 years ago, its leadership had considered regional and out-of-state headquarters for renovation or relocation. Its board ultimately decided to remain in Cuyahoga County with the help and financing cooperation of the City of Westlake, Ohio Development Services Agency, State of Ohio and the Cleveland-Cuyahoga County Port Authority. Full Press Release 2014.05.21 American Greetings
April 22, 2014 – CLEVELAND, OH- The Port of Cleveland welcomed on Tuesday the first vessel of the Cleveland-Europe Express cargo service from Antwerp, Belgium, via the Saint Lawrence Seaway. On the vessel’s first round trip voyage, it is carrying cargo moving between five states and seven countries.
The Cleveland-Europe Express is the only regularly scheduled international container and non-containerized cargo service on the Great Lakes. It is the fastest and greenest route between Europe and North America’s heartland, allowing regional companies to ship their goods up to four days faster than using water, rail, and truck routes via the U.S. East Coast ports.
Marc Krantz, chairman of the Port of Cleveland Board of Directors, said that the service is something that the Port of Cleveland’s board members and leadership have been working on since the board developed its strategic plan 2 years ago. “The service takes advantage of the manufacturing strength of Northeast Ohio and the geography of the Cleveland port itself as the first major stop in the U.S on the Seaway system,” Krantz said. Full Press Release 2014.04.22 Liner Service
CLEVELAND, OH- The Port of Cleveland’s Board of Directors approved on Thursday, April 17, financing to help the next phases of Crocker Park.
The Port approved the issuance and sale of up to $7 million in bonds to develop new commercial, retail and residential components within Crocker Park, including five new restaurants, a new 110 room Hyatt Place premium hotel, and 386-space private parking garage.
The Port is a crucial partner in building Cuyahoga County’s future and plays an important role in stimulating economic development by connecting private investors with landmark projects throughout our region. Full Press Release 2014.04.17 Crocker Park
CLEVELAND, OH- U.S. Transportation Secretary Anthony Foxx recently appointed Port of Cleveland President and CEO Will Friedman to the Marine Transportation System National Advisory Council (MTSNAC).
Established in 2010, MTSNAC is comprised of leaders from commercial transportation firms, trade associations, state and local public entities, labor organizations, academics, and environmental groups that advise the Secretary on policies to ensure that the U.S. Marine Transportation System is capable of responding to projected trade increases.
“It is truly an honor to be selected by Secretary Foxx to serve on the MTSNAC.,” said Friedman. “I look forward to working closely with fellow Council members to assist Secretary Foxx and Maritime Administrator Jaenichen and their team to map out the future of marine transportation in our country. I am a firm believer that maritime, as a component of our multimodal system, will contribute even more to long term economic growth as a high-capacity, low-cost, sustainable and safe mode of transport.” Full Press Release 2014.04.16 MTSNAC Appointment
Cleveland-Europe Express will arrive in Cleveland in two weeks
CLEVELAND, OH- With the departure of the vessel “Fortunagracht” out of Antwerp, Belgium over the weekend, the Cleveland-Europe Express service between the Cleveland Harbor and Europe via the Saint Lawrence Seaway has officially launched. The vessel is loaded with breakbulk and containerized cargo and is set to dock in Cleveland around April 17.
The Cleveland-Europe Express is the only regular, scheduled international container and non-containerized cargo service on the Great Lakes. The Port of Cleveland and Dutch company The Spliethoff Group entered into an agreement in November 2013 to begin the service. It is the fastest and greenest route between Europe and North America’s heartland, allowing regional companies to ship their goods up to four days faster than using water, rail, and truck routes via the U.S. East Coast ports.
Will Friedman, president & CEO of the Port of Cleveland, said the market is responding very favorably and in line with expectations. Full Press Release 2014.04.07 Liner Service Underway
PORT OF CLEVELAND BOARD ADOPTS RESOLUTION ON ARMY CORPS OPEN LAKE DREDGE DISPOSAL PROPOSAL, REPORTS STRONG OPERATING RESULTS FOR 2013
Also elects officers and renews key operations contracts
CLEVELAND, OH- The Port of Cleveland approved a resolution at its March Board of Directors meeting directing the Port’s management to work with U.S. Army Corps of Engineers to ensure the timely start and completion of dredging necessary for the 2014 shipping season utilizing existing confined facilities for disposal of the material.
In its resolution, the Port Board noted that, to avoid significant detrimental impact to the economic vitality of the region, dredging the Cuyahoga River and Cleveland Harbor must start without delay. The Board also asked that the decision process of the Army Corps of Engineers with regard to the placement of dredged material in the open waters of Lake Erie be deliberate and transparent and provide for adequate time for careful consideration of all pertinent data and views, including State regulatory agency findings and local plans. Full Press Release 2014.03.13 Dredge
CLEVELAND, OH- The Cleveland-Europe Express freight shipping service between Cleveland Harbor and Europe via the Saint Lawrence Seaway will begin in Spring 2014, according to a charter agreement with The Spliethoff Group approved by The Port of Cleveland Board of Directors on Thursday, November 21.
The Cleveland-Europe Express Ocean Freight Service will be the only regular, scheduled international container service on the Great Lakes. The fuel-efficient, multi-purpose ships will also have room for non-containerized cargoes.
William Friedman, president & CEO of the Port of Cleveland, said that the service will be the fastest and greenest route between Europe and North America’s heartland, allowing regional companies to ship their goods up to four days faster than using water, rail, and truck routes via the U.S. East Coast ports. Full Press Release 2013.11.21 Spliethoff
CLEVELAND, OH- The Port of Cleveland’s Board of Directors voted today to help support more than $400 million in downtown Cleveland redevelopment projects.
At its monthly board meeting, The Port approved:
- Issuing up to $97 million in lease revenue and tax increment financing bonds for Phase II of the Flats East Bank project. Total project costs are estimated at $149 million.
- Issuing up to $57 million in lease revenue and tax increment financing bonds for the development of “The 9”, a mixed-use development adjacent to the new County Headquarters. Total project costs are estimated at $171 million.
- Granting a leasehold interest in the Optima-Sage hotel project to continue the development of the $73 million redevelopment of the former Crowne Plaza hotel”.
William Friedman, president and CEO of the Port of Cleveland, said it is part of the Port’s mission to finance development through the sale of project revenue bonds to private investors. The Port of Cleveland is the only local government agency whose sole mission is to spur job creation and economic vitality in Cuyahoga County. “These three projects that our Board approved today are vitally important to the redevelopment of downtown Cleveland. They will bring construction jobs, permanent jobs, tax revenues, and will change the feel of our downtown,” he said. “We’re proud to play a role in attracting private investment capital to these projects and our community.” Full Press Release 2013.11.21 Financing
CLEVELAND, OH- The Port of Cleveland’s Board of Directors approved on Wednesday, October 23, financing to help redevelop the former Parmatown Mall. The Port will provide up to $10 million in tax increment financing revenue bonds from the Common Bond Fund Program.
Located in Parma, eight miles southwest of downtown Cleveland, Parmatown Mall is a retail shopping mall that opened 1956. In 2012, the Cincinnati-based Phillips Edison & Co. bought the 82.5 acre site including the Parmatown Mall, an adjacent strip center, the vacant Macy’s building, and two office buildings. Full Press Release 2013.10.24 Shoppes at Parma