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).

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