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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

Environmental

Shipping is Cutting CO2 Emissions

London-based shipping advisors Drewry Supply Chain Associates said that shipping liner operators have made significant inroads into cutting CO2 emissions.   In

Naval Authorities Rely on OSE Separators from GEA

The trend of modernizing ships and fitting them with more efficient separator systems, which has been noticeable since 2014 particularly in Europe and North America,

MacGregor's Pusnes bow loading systems for Suezmax Tankers

MacGregor, part of Cargotec, has secured contracts to supply Pusnes bow loading systems for three newbuild shuttle tankers intended for operations in Brazilian waters.

News

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

NCSP Group Cargo Traffic Up 6% in Q1 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.

Naming Ceremony of Evergreen's EVER LYRIC

Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Sonar
rss | archive | history | articles | privacy | 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: 0.3118 sec (3 req/sec)