Port of LA to Launch Container Ship Incentive Scheme

MarineLink.com
Friday, November 08, 2013
Photo courtesy of Port of Los Angeles

The Los Angeles Board of Harbor Commissioners has approved a new incentive program to reward shipping lines that bring new container business to the Port of Los Angeles in 2014. The Ocean Common Carrier Incentive Program adds to the advantages of moving cargo through America’s No. 1 container port at a time when the fundamentals of shipping are changing and international carriers are rethinking traditional business practices.

Under the incentive program, an ocean carrier will earn $5 per 20-foot equivalent unit (TEU) for each incremental container it ships through the Port in calendar year 2014. The rate jumps to $15 per TEU for all TEUs, if a carrier’s container volume grows by 100,000 or more units for the same 12-month period.
 
The baseline for measuring the increased volume will be the total number of containers each carrier moved through the Port in calendar year 2013. Carriers will receive their incentive in a lump-sum payment in early 2015. Port staff will monitor the program on a monthly basis to evaluate its effectiveness and whether to recommend its extension.

Separately, the Board also established a two-member ad hoc committee on Port Industrial and Economic Development dedicated to identifying and advancing the best economic practices for maintaining the Port’s top position. Vice President David Arian and Commissioner Patricia Castellanos will serve on the ad hoc committee.
 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Danish Bunker Trader Joins GAC in London

GAC Bunker Fuels says it has appointed former GAC Denmark Shipping Assistant Ida Ryberg as a Bunker Trader with its UK team. Ryberg joins Andy Boichat and Resham

Costa Tow Update: Climate Onboard 'Calm'

According to the latest update, after approximately 30 hours of navigation, the Concordia has travelled 63 nautical miles at an average speed of 2 knots, informs

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

Ports

Homecoming Scotland 2014 Fireball Championships

Lerwick Harbour is ready for an exciting week of sailing with the 2014 Fireball European Championships taking place at the port next week. As a warm-up to the main event,

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's

Phillips 66 Marine Fueling Facility Nears Completion

Phillips 66’s previously announced marine over-the-water fueling facility at its Richmond, Calif. terminal is nearing completion. The facility, located on Canal Boulevard, and known as Pier No.

Finance

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

Ardmore Shipping Secures Newbuilding Finance

Ardmore Shipping Corporation says it has signed agreements to upsize its existing senior loan facility with ABN AMRO Bank N.V., Nordea Bank Finland Plc, and Skandinaviska Enskilda Banken AB ("SEB").

UK Chancellor Mentions Hi-Tech Tax Breaks on Bibby Offshore Visit

Bibby Offshore, subsea services provider to the oil & gas industry, says it has hosted a visit by George Osborne, Chancellor of the Exchequer, to the Company’s workshop,

Container Ships

Samudra Containership Rationalisation Hits Revenues

Diversified Singapore-based containership owners Samudra Group reports registered revenue of USD 96.9 million for the second quarter ended 30 June 2014, a 7.6% decline from USD 104.

MES Gets First Order for ME-GI Marine Engine

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) has received the first order of electronically controlled gas injection diesel engine (ME-GI) for MES. MAN B&W 8S70ME-C8.

London, Brazil Terminals Boost DP World Container Volumes

DP World , one of the world's biggest port operators, said on Thursday that its gross container volumes rose 10.7 percent from a year earlier in the first half of 2014.

Logistics

Nation’s Vessel Operators Join EPA as SmartWay Affiliate

The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, announced today that it joined the SmartWay Transport Partnership,

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Thome Is the First to Sign up to IMPA Act

Leading integrated ship management service provider Thome Ship Management has become the first ship management company to join IMPA ACT, the responsible supply chain management initiative,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1832 sec (5 req/sec)