Excerpts from the Journal of Commerce:
The Port of Seattle wants a financial guarantee for Terminal 46 lease payments.
The Northwest Seaport Alliance is attempting to block the sale of a terminal once owned by now-defunct Hanjin Shipping unless Mediterranean Shipping Co., the buyer, posts a security bond to protect the interests of the Port of Seattle.
The port authority filed an objection Friday with the US Bankruptcy Court in New Jersey to the sale of the former Hanjin Terminal 46 in Seattle unless a bond for $1.25 million was posted.