SUMMARY:
Ports America operates container loading and unloading yards for ships, rail cars, and trucks at the Port Newark Container Terminal (PNCT) in New Jersey and at the Seagirt Marine Terminal (SMT) in Baltimore, MD. CCA was retained to conduct an appraisal to determine the cost to replace the facility, known as the Cost of Reproduction New (CRN). The CRN provides current replacement costs necessary to negotiate property insurance. Based on CCA’s experience and education, our experts reviewed applicable documents, interviewed Ports America representatives, and performed site visits to produce an asset valuation of over two billion dollars of the property and equipment. CCA’s CRN was provided to Lloyd’s of London to help determine an appropriate insurance premium for Ports America.
