Structural and fundamental changes in port operation and ownership over the past decade are obvious evidence on emergence of port- operating transnational corporations. The emergence of the port-operating transnational corporations necessarily leads to a fundamental epistemological change in reconceptualizing the meaning of port, so that the concept of port as a single, fixed, and spatial entity shifts in a network of terminals that operate under a corporate and unit logic. This epistemological shift has twofold: 1- Because of port reforms, corporate entry occurs usually at the terminal level, the terminal rather than the port becomes the relevant spatial unit of analysis. 2- Although spatial theories of the firm represent a longstanding stream in economic geography, such theories have yet to find general application in port studies. Therefore, in addressing the interface between transport and economic geographies, the transport researchers suggest a geography of the port-operating transnational corporations as a potential bridge. A decade of privatization in port sector has rendered the port industry an appropriate empirical ground for enquiry into spatial theories of the activities of firm. Evidence from Asian Port Systems and business networks are put forward in sketching a new research agenda. Finally, it should be said that today port is not merely a place on a world map, but according to Bird: "A map of a seaport can be misleading".