On Sept. 10, Nippon Yusen Kabushiki Kaisha and the Port of Tacoma celebrated the signing of a 25-year lease for a container terminal on the industrial east side of Tacoma’s Blair Waterway.

The lease will commence when the terminal is completed in 2012.

Port Commissioner Richard P. Marzano and Executive Director Timothy J. Farrell joined NYK president Koji Miyahara and representative director and executive vice-president Minoru Sato during a signing ceremony at which an exchange of gifts occurred.

Commissioner Marzano emphasized that the Tacoma Port would play a significant role in logistics along the U.S. West Coast, where cargo movement has been rapidly increasing.

NYK president Miyahara stressed that the establishment of NYK’s own operating terminal at the Port would help ensure reliable services by the company. At the same time, he promised that NYK would continue to enhance the cooperative relationship it has with the Port of Tacoma.

This new terminal at the Port of Tacoma, together with NYK’s own terminal at the Port of Los Angeles, is a key part of NYK’s plans to enhance container services between Asia, where the company’s business is expected to expand in the future, and the west coast of North America.

Nippon Yusen Kabushiki Kaisha is one of the world’s leading transportation companies. The NYK Group operates approximately 740 major ocean vessels, as well as fleets of planes, trains, and trucks. The company’s shipping fleet includes around 140 containerships, 270 bulk carriers, 50 wood-chip carriers, 110 car carriers, 25 reefer carriers, 70 tankers, 20 LNG carriers, and three cruise ships.