In the United States some ports have secured finance for infrastructure through the issuing of bonds to the value of $12 billion to be repaid by existing and future user fees. This process helps ports to shore up cash flow and address liquidity constraints without relying on public funds. Port revenue bonds are retired through revenues, user fees and tariff charges paid principally by port customers (PMSA, 2013). The issuing of bonds is seen as a favourable means to raise revenue for new