NEW ORLEANS, LA – The Port of New Orleans (Port NOLA) announces a 10-year lease agreement with The Kearney Companies, Inc. (The Kearney Companies), a subsidiary of Precision Terminal Logistics (PTL). This strategic partnership underscores the port’s commitment to fostering growth and innovation in maritime and cargo operations.
The newly consolidated lease, spanning a decade, signifies a significant milestone in the enduring relationship between Port NOLA, The Kearney Companies, and the New Orleans Public Belt Railroad (NOPB). The lease encompasses four rail-served transit sheds situated on France Road and a rail-served storage facility located at 3900 Jourdan Road. These properties, leased for the past two decades, have been instrumental in facilitating seamless connectivity between river, rail, and road.
Brandy D. Christian, President and CEO of the Port of New Orleans and CEO of the New Orleans Public Belt Railroad, emphasized the importance of this partnership in delivering integrated logistics solutions. “Our longstanding partnership with The Kearney Companies exemplifies Port NOLA’s commitment to fostering collaborative relationships to drive efficiency and growth in cargo handling,” Christian stated.
As part of the lease agreement, The Kearney Companies will make substantial capital investments in facility upgrades and enhancements, subject to Port NOLA approval. This mutual investment underscores a shared dedication to bolstering Port NOLA’s infrastructure, ensuring it remains capable of meeting evolving customer demands and supporting sustained cargo growth while creating job opportunities in the region.
David Kearney, President of The Kearney Companies, Inc., expressed pride in the success of the partnership with Port NOLA over the past two decades. “Our collaboration with Port NOLA has not only facilitated operational efficiencies but has also created tangible value for our customers and the local community,” Kearney remarked. “We remain committed to investing in our facilities to support our customers’ logistical needs and contribute to the continued growth of Port NOLA.”
The Kearney Companies’ operations with NOPB currently handle 3,000 carloads annually, with projections indicating further growth. Additionally, the company manages nearly 20,000 twenty-foot equivalent units per year, supporting approximately 65 full-time jobs across various roles within the logistics ecosystem.
