(BRK.A), (BRK.B)
BNSF Railway has received approval from the Commissioners of the Northwest Seaport Alliance to develop and operate a domestic intermodal facility at Lot M in the Tacoma Harbor.
The new BNSF facility will increase cargo volumes moving to and from the NWSA and inland U.S. markets via rail. The adoption of this lease uniquely positions the NWSA as a port directly served by two mainline railroads in the domestic movement of containers.
“Growing the NWSA’s domestic intermodal volumes has long been a goal for the Seattle and Tacoma gateway,” stated NWSA Co-Chair and Port of Tacoma Commissioner President Don Meyer. “The new facility will increase job opportunities while reducing truck emissions associated with moving cargo to inland markets.”
BNSF currently operates a domestic intermodal facility in Tukwila serving the NWSA’s Seattle Harbor. The new Tacoma intermodal facility will bring additional key rail assets to the Pacific Northwest region with the potential for more than 50,000 container lifts in subsequent years.
“The new Tacoma South facility builds upon our joint initiative with J.B. Hunt to substantially improve capacity in the intermodal marketplace while also meeting the expanding needs of our customers,” said Tom Williams, BNSF group vice president, Consumer Products. “Our collaboration with the NWSA will help support greater warehousing and distribution needs in the fast-growing greater Seattle area.”
Currently, cargo movement occurs by truck to more than 40 transload facilities in the Puget Sound or directly by rail to inland locations. The increase in domestic rail movement will add additional jobs to NWSA-licensed facilities while reducing fuel consumption and air emissions that are caused by trucks throughout the Puget Sound region.
Operations at the new facility are expected to begin in August of this year.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.