Re: Goldman Sachs looks to pitch port-rail investment (Humboldt Bay)
Author: jdm
Date: 05-28-2008 - 16:47
Some where in this thread it was stated that Port of Stockton and Port of Sacramento have gone into containers. WRONG so Very WRONG, Port of Stockton has become the westcoast port of choice for break bulk and heavy lift cargo and they do not have the draft or the desire to handle containers. Sacramento is losing cargo due to the river draft of 28 feet and due to the Enviros and NIMBYs they canmnot dredge. These ports leave the containers to the Ports of LA, and Long Beach, Oakland and SEA,TAC and now with the New CN Port at Prince Rupert. There is now excess capacity on the west coast for container ships. If the new super Ports are built in Mexico Oakland and LA and SEATAC will lose traffic.
Humbolt bay or for that matter Coos Bay would have to be dredged to 48 to 50 feet to acommadate the current size container ships and both Harbors would need constant dredging to keep the ship channels open.
There is no need to try and rebuild a railroad that is in an area where the NIMBYS do not want it, is running in an unstable area from Eurkea to Cloverdale and where there is no online traffic. The route will add 3 days to any trip a container takes and is just not viable.
Goldman Sachs is just looking for someone to pay them a whole lot of money and managment fees.
Just let go, the NWP will not rise again. The money thre State has spent would have been better spent on the other 12 other shortlines in the state.