Worldport LA Receives Go-Ahead For Activation Of Foreign Trade Zone
The U.S. Customs Service has approved Crescent Warehouse Co., Ltd.'s application to activate a foreign- trade zone (FTZ) operation in Foreign-Trade Zone 202 at the Port of Los Angeles.
A division of Stevedoring Services of America, the company has 65 years of experience as an operator of customs-bonded cargo warehouses. As an FTZ 202 operator, Crescent will use a Port-owned, 73,125-sq.-ft. facility for storing metals for the London Metal Exchange.
Traders of foreign and domestic merchandise brought into an FTZ can benefit from substantial costsaving incentives on duties and taxes. FTZ 202 includes sites at Los Angeles International Airport and the proposed International Trade and Transportation Center in Bakersfield, Calif.
Worldport LA's Marketing Director, A1 Fierstine, announced that Akio Segawa has been appointed to the presidency of Japan Marine Services, Ltd., the Tokyobased company that provides marketing representation in Japan for the Port.