Port of LA: Huge Capital Investment Program Approved

Press Release
Friday, June 07, 2013
Container Quays: Photo courtesy of Port of Los Angeles

The Harbor Commissioner's Fiscal 2013-14 Budget Includes $399.9-million capital expenditure to improve cargo flow and dfficiency.

The Los Angeles Harbor Commission has adopted a 2013-14 fiscal year (FY) budget of approximately $1.1 billion for the Port of Los Angeles, including one of the largest annual Capital Improvement Programs -- $399.9 million or 37% of the total budget -- in Port history. The budget supports more than 8,500 jobs, 6,870 of which are attributable to construction project spending in the coming fiscal year which begins July 1.

The capital spending budget earmarks more than $380 million for container terminal and transportation upgrades, including:

  • More than $99 million at the TraPac container terminal for backland improvements to support future terminal automation as well as construction of a facility to provide on-dock rail capabilities, which will result in all Port of L.A. container terminals equipped with on-dock rail.
  • $41.5 million in construction at China Shipping Terminal, which includes completion of 375 linear feet of expanded wharf and backland improvements.
  • Almost $96 million for the installation of Alternative Maritime Power™ stations at major container terminals including APMT, APL, Evergreen, Yang Ming and China Shipping. These stations reduce emissions from container vessels by “plugging in” to shore side power instead of running on diesel power.
  • $8.2 million for the audit, design, and construction of required upgrades at liquid bulk oil cargo handling facilities throughout the Port, pursuant to requirements of the State Lands Marine Oil Terminal Engineering Maintenance Standards.
  • Over $15 million for other terminal projects including wharf and backland development at APL, equipment and wharf upgrades at Evergreen, and pavement replacement at APMT.
  • Almost $78 million related to construction at the Berth 200 rail yard, a pivotal piece of the Port’s overall goods movement plan to facilitate more fuel-efficient, faster and safer rail operations throughout the Port complex.
  • $33.2 million for the South Wilmington Grade Separation project, which will provide unimpeded grade-separated vehicle access to businesses throughout the Wilmington Waterfront while allowing public safety vehicles unobstructed access to the area.
  •  Another $8.8 million for additional transportation projects including Harry Bridges Boulevard Improvements, the Advanced Transportation Management Information System, and the C Street/I-110 Access Ramp Improvements.

The FY 2013-14 budget builds on a year in which the Port made significant progress on a number of fronts, including completion of its Main Channel Deepening Project that now allows accommodation of new modern, larger vessels at the Port; the significant reduction of elemental carbon concentration in the Port area to its lowest levels since data collection began in 2005; and maintaining the Port’s strong financial position and its “AA” bond rating – the highest rating given to a port without taxing authority.
 


People & Company News

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Ports

Indian Warships Visit Port Victoria

In a demonstration of India’s commitment to its ties with Seychelles and maritime security in the Indian Ocean Region, Indian Naval Ships Kolkata, Trikand and

Vitol's Malaysia Terminal Suspends Ops after Spill

VTTI, the storage unit of world's largest oil trader Vitol, has suspended operations at its terminal in southern Malaysia following an oil spill, two industry sources said on Friday.

Shenzhen Port to Adopt China ECA Regulation

China's Shenzhen port is set to to adopt requirements for ships at berth requiring to burn marine fuel with sulfur content not exceeding 0.5 percent starting October this year,

Finance

SOS from Hanjin Shipping

The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

 
 
Maritime Contracts Offshore Oil Pod Propulsion Port Authority 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: 0.1296 sec (8 req/sec)