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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Indiana Ports Sets Cargo Record in 2015

State's three ports handle 12 million tons for first time in 54-year history  INDIANAPOLIS (Feb. 11, 2016) - The Ports of Indiana handled over 12.2 million tons of cargo in 2015,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

Owner Fined for 'Dangerously Unsafe' Vessel

The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe.

Finance

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Environmental

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

Submarine Tourism in Turkey's Waters

The first tourist submarine in Turkey is waiting to be sent on a voyage that will reveal the wonders of the undersea world of the Mediterranea.   The first submarine

Cautious Optimism on Pacific NorthWest LNG Report

Canadian Environmental Assessment Agency (CEAA)  has ruled that Pacific NorthWest LNG’s project in British Columbia would likely harm harbour porpoises and contribute to climate change,

News

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

N.E. Fishermen Warned of Extreme Cold, Wind Chills

The Coast Guard is urging the Massachusetts and Rhode Island fishing fleet to take caution heading into the weekend when life threatening temperatures and wind chills are forecasted.

Hapag-Lloyd Enhances Conosur Service

Hapag-Lloyd has informed about its service enhancements on the Conosur Service (South America West Coast to South America East Coast). This is being upgraded by

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1309 sec (8 req/sec)