facebook_pixel
CMA CGM Ad
Ports and Terminals

Port of Long Beach Approves MSC to Take Over the Port’s Largest Terminal

Port of Long Beach Approves MSC to Take Over the Port’s Largest Terminal
Danny Gill

The Long Beach Board of Harbor Commissioners have green-lighted a subsidiary of Mediterranean Shipping Co. (MSC) to take over sole control of the long-term lease of the Port’s 381-acre Pier T container terminal. Previously, MSC held a minority stake in the lease for Pier T, where more than a quarter of the Port’s container cargo is moved.

The Harbor Commission’s new agreement with MSC subsidiary Terminal Investment Limited (TIL) also guarantees the accelerated installation of ship-to-shore cranes capable of handling the world’s biggest container ships.

TIL is taking control from Hanjin Shipping who declared bankruptcy on Aug. 31 of this year. In 2015, Hanjin accounted for about 12 percent of the containers that moved through Long Beach.

Board of Harbor Commissioners President Lori Ann Guzmán said that while Hanjin’s bankruptcy was unfortunate, the approved agreement is a worthy deal to bring steady business to one of the country’s premier container terminals.

“This decision comes at a crucial time. With all of the changes that have taken place in the shipping industry in recent years, certainty is very important,” Ms. Guzmán said. “Although we regret the loss of a long-term partner in Hanjin Shipping, we look forward to the opportunities that Terminal Investment Limited, Mediterranean Shipping Company, Hyundai Merchant Marine and their ‘2M Alliance’ partners will bring to Long Beach.”

 

Ports and Terminals
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ports and Terminals

Peel Ports Commences Second Phase of Liverpool2

Peel Ports Commences Second Phase of Liverpool2

Danny GillJuly 18, 2017

DP World and Indonesian Government Sign Agreement to Develop Port and Trade Infrastructure

Danny GillJuly 18, 2017
World’s Largest Container Ship Calls Wilhelmshaven on Her Maiden Voyage OOCL Hong Kong

World’s Largest Container Ship Calls Wilhelmshaven on Her Maiden Voyage

Danny GillJuly 3, 2017
Port of Los Angeles Reaches 9 Million TEU Benchmark

VIDEO: Port of Los Angeles Reaches 9 Million TEU Benchmark

Danny GillJune 26, 2017
Ocean Alliance Calls APM Terminals Port Elizabeth

Ocean Alliance Calls APM Terminals Port Elizabeth

Danny GillJune 22, 2017

First 20,000-TEU Vessel Calls Rotterdam

Danny GillJune 20, 2017
sahathai

Sahathai Terminal Officially Files for Initial Public Offering

Danny GillJune 9, 2017

Indonesian Port Operator Places Order for Eight Konecranes Mobile Harbor Cranes

Danny GillJune 2, 2017

CMA CGM and Adani Ports Ink Deal to Run New Container Terminal

Danny GillApril 28, 2017