Port of L.A. Review Proposed Yang Ming Terminal Improvements

MarineLink.com
Tuesday, August 27, 2013
Photo: Port of Los Angeles

$122 Million Project Would Expand Facility, Extend Lease Agreement

The Port of Los Angeles is initiating the environmental review process on a proposed berth-improvement project by Yang Ming, a Taiwanese marine transport company at the Port. The start of the environmental process, which is expected to formally begin this fall with a Notice of Preparation, is the first step in Yang Ming's plan to enhance its terminal facilities and deepen its berth to accommodate 14,000 Twenty Foot Equivalent (TEU) vessels and increase cargo volume.

In May, executives from Yang Ming and the Port of Los Angeles signed a term sheet agreement at Chi-Du, Taiwan Yang Ming Headquarters to perform a number of key improvements that will enhance the Yang Ming terminal facilities. As part of the agreement, the Port plans to invest $122 million in improvements at the terminal, including construction of a new 1,260 linear foot wharf at Berths 126-129, dredging to a depth of -53 feet at the newly constructed wharf, and expansion of the West Basin Intermodal Container Transfer Facility. The West Basin Container Terminal is a partnership between Yang Ming, China Shipping and Ports America.  

Yang Ming’s current lease at the West Basin Container Terminal ends in 2021. This agreement will extend the lease to 2030, delivering between $365-525 million in Port revenue, depending on cargo volumes.

In addition to the term sheet agreement with Yang Ming, the Los Angeles officials also signed a Memorandum of Understanding with officials of the partners of the West Basin Container Terminal to promote business and trade with the City and Port of Los Angeles in Beijing.

The Port of Los Angeles has made significant terminal and infrastructure investments in recent years to maintain its competitive edge for decades to come. The $122 million enhancement of the Yang Ming terminal facilities will complement the Port’s five-year, $1.2 billion investment to update terminals, increase rail capacity, and deepen the main channel to allow ships to reach a -53 foot depth and increase the seaborne trade coming through the nation’s busiest container port.

portoflosangeles.org
 

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

Finance

Warming Aids Arctic Economies, but Short of 'Cold Rush'

Climate change is aiding shipping, fisheries and tourism in the Arctic but the economic gains fall short of a "cold rush" for an icy region where temperatures are

Iraq to Appeal US Court Decision on Kurdish Oil

The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.

UK's Hound Point VLCC Jetty Down Until Sept. 15

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday,

Environmental

Warming Aids Arctic Economies, but Short of 'Cold Rush'

Climate change is aiding shipping, fisheries and tourism in the Arctic but the economic gains fall short of a "cold rush" for an icy region where temperatures are

Coast Guard Responds to Capsized Tug in Chicago

The Coast Guard is responding to the capsizing of a tug on the Calumet River near the 106th St. Bridge in Chicago in which two crew members were able to escape and swim to shore.

Crippled Pine Galaxy Arrives in San Francisco

The disabled mixed-products tanker Pine Galaxy arrived in San Francisco for repairs Wednesday. Commercial tugs towed the ship safety into the Port of San Francisco

Container Ships

Latest Ocean-Going Shipbuilding Orders

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

Storm Surge Halts Vessel Operations at Long Beach

Two cargo terminals at the Port of Long Beach announced Wednesday, Aug. 27, that they were suspending vessel operations for the day because 10- to 15-foot high

Dredging

MN 100: Donjon Marine Co., Inc.

100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812  Email: info@donjon.com Website: www.donjon.com President & CEO: J. Arnold Witte The Company: Donjon Marine Co.

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

Panama Canal Opens 2nd Maintenance Congress

The Panama Canal Authority (ACP) opens today the Second International Maintenance Congress with the participation of 26 international and six local experts to promote

News

SHIPPINGInsight Extends Early-bird Registration

SHIPPINGInsight 2014 is extending the deadline for early-bird registration to Sept. 15. Attendees registering online at www.shippinginsight.com/choose-event prior to midnight Sept.

Warming Aids Arctic Economies, but Short of 'Cold Rush'

Climate change is aiding shipping, fisheries and tourism in the Arctic but the economic gains fall short of a "cold rush" for an icy region where temperatures are

Pearl Seas Cruises Embarks on Inaugural Sailings

Just six weeks into its inaugural season, Pearl Seas Cruises has announced the successful start of its 210-passenger flagship, Pearl Mist, which currently operates

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.2028 sec (5 req/sec)