“This afternoon, the Federal Maritime Commission (FMC) announced it has approved an agreement allowing Puerto Rico Terminals (PRT) and Luis Ayala Colon (LAC) to form a joint venture called Puerto Nuevo Terminals (PNT) at the Port of San Juan.

“This agreement will allow the parties to more efficiently leverage existing assets, as well as planned, private investments in infrastructure and technology to better serve carriers, shippers, truck drivers and other port users. Additionally, it will provide carriers a modern and well-maintained terminal at the Port of San Juan, delivering significant benefits to Puerto Rico’s consumers and businesses.

“Consistent with its regulatory responsibilities, the FMC will monitor this joint venture, which will share assets and planned investments that are essential to maintaining reliable and competitive service for domestic and international trade at the Port of San Juan for decades to come. We look forward to continuing to fully cooperate with the FMC, and to working with relevant stakeholders, as the PNT agreement is implemented.”