SEATTLE, WASHINGTON, U.S. — The initial review period for the proposed Seaport Alliance between the ports of Seattle and Tacoma, Washington, U.S., was completed Dec. 1. Due diligence will continue over the next few months.
The interlocal agreement (ILA), which was subject to a 45-day review and approval period, provides a framework to examine business objectives, strategic marine terminal investments, financial returns, performance metrics, organizational structure, communications and public engagement.
Following the due diligence period, the two port commissions intend to submit to the Federal Maritime Commission by around the end of March 2015 a more detailed agreement to form the Seaport Alliance.
The two ports together form the third-largest container gateway in North America, representing a critical connection to Asia and Alaska.