Bob Watters Shipping Quotations

It's a capital intensive business to get into and ... to actually have the leases, it's very difficult because the port authorities want to give the leases to shipping lines rather than terminal operators. We would have a lot more terminal leases if we could.

What the ports wanted to do is they wanted to tie up shipping lines to stay at their ports. The ports really in a sense put the U.S. terminal operators, more of them, out of business, because they were targeting the shipping lines.