Gulftainer is out and a Massachusetts company is in at the Port of Wilmington.
Enstructure will take over management of the port under a deal worked out with the state-owned Diamond State Port Authority.
No formal announcement was made regarding the change made by the Diamond State Port Authority.
However, both the state and Enstructure praised the change.
Secretary of State Jeffrey Bullock issued the following:
“The Diamond State Port Corporation (DSPC) board is very pleased about our new partnership with Enstructure. Enstructure already has a presence in Delaware at the port. They understand the need to make capital investments in the existing Port of Wilmington that will maintain our strong customer base, allowing business to grow and creating more jobs in the future. Enstructure will also pursue the development of a new terminal at Edgemoor, something we have been promised for years. Having a long-term investment strategy for Wilmington and Edgemoor has always been the goal for the DSPC. We are very encouraged that Enstructure will meet that goal successfully.”
Matthew Satnick and Philippe De Montigny, Co-CEOs of Enstructure issued the following:
“Enstructure is excited to partner with the Diamond State Port Corporation (DSPC) to operate and expand the Port of Wilmington and to develop the Edgemoor property into a new state-of-the-art container terminal. We fully recognize the importance of the Port to the State of Delaware and the local community, as well as the pressing need for strategic investment to position Delaware for the future in the maritime industry.
“For the existing facility, we look forward to quickly bringing our experience in national and local markets, best-in-class service, and comprehensive terminal and logistics solutions to this innovative public-private partnership. As we move forward, we will work closely with stakeholders, especially the International Longshoreman’s Association and our talented workforce, to maximize economic development and union job growth opportunities for the Port and the broader region.
“Enstructure is also looking forward to collaborating with DSPC on the Edgemoor project, which will expand Wilmington’s presence on the East Coast as a vital port city and deliver significant economic benefits to the State. To that end, Enstructure, in consultation with DSPC, is working closely with a global carrier regarding the development of Edgemoor as a best-in-class container terminal. We will continue to work closely with DSPC and our potential partner to make this project a reality.”
The changeover to the U.S company would end a troubled period under previous port manager Gulftainer.
Under a highly touted 50-year lease, Emirates-based Gulftainer committed to developing a $500 million container port on the Delaware River at the former DuPont-Chemours titanium oxide production site. Permitting to underway, but the project failed to move forward.
Gultainer has reportedly struggled with making lease payments to the state and struggle with a shipping downturn during the Covid-19 pandemic. The state turned to Gulftainer after absorbing years of losses while bearing the cost of capital improvements like cranes.
Gulftainer made improvements to equipment at the port, which has struggled to remain competitive with its counterparts along the Delaware River. It remains a leading destination for shipments of produce.
Gulftainer also ended up in legal clashes with companies working out of the port and lost court battles.
Enstructure already has a presence at the Port of Wilmington after acquiring Port Contractors in 2021.
The company has holdings in the Eastern half of the nation.