In 2020, CSX made a bid to purchase the ruins of the ~Boston & Maine/Maine Central Guilford Rail Systems Pan Am Railways, and as a condition of the merger they had to surrender control of the Portland-area trackage that belonged to PAR’s Portland Terminal Company to a (jointly owned with the PV&T) independent PTM.

The new PTM is a neutral terminal railway for both CSX & the PV&T (a'la CSX & NS’s Conrail Shared Assets) which is dispatched by CSX and maintained by the PV&T. “Maintained” includes supplying motive power, which the PV&T did by leasing a handful of Alcos from the DLP.

As of 2024, the PTM rosters:

number	model	builder	notes
2000	RS-29	Alco/ILW	Ex-Lake State Railway #1195
2020	RS-11	Alco	Ex-Napa Valley Wine Train #62; painted in PTM colours.
2100-2103	RS-250	Alco/ILW	Ex-Detroit & Mackinacs #469,481,977,4610
2104-2105	RS-350	Alco/ILW	Ex-Detroit & Mackinaw RS-3s #974,975
2200-2202	C-644	Alco/ILW	ex-CBNS C-630s #2016,2028,2029; Rigby Yard switchers