Gerald Desmond News

The Port of Long Beach sails into 2017 propelled by transformative modernization projects all across the harbor, excellent financial health, an industry-leading record of environmental progress, and a strong commitment to working with the City and neighbors, said Harbor Department leaders Wednesday morning at the annual “State of the Port” event. About 300 industry stakeholders, civic leaders and community members attended the gathering at the Long Beach Convention Center to hear about the Port’s plans to enhance its rail network and other efficiencies to pursue competitiveness in the year ahead. Despite a 2016 that took the shipping industry and the Port into some rough seas…

Port of Long Beach CEO Jon Slangerup announced his resignation, effective October 28, 2016. Slangerup will step down as head of the nation’s second largest port to take a position as Chairman and CEO of an aviation technology company effective October 31, 2016. Soon after joining the port in June of 2014, Slangerup helped address the major congestion challenge that affected the San Pedro Bay port complex and the national goods movement network. He worked with local, regional and federal stakeholders  to restore operations in less than half the time expected.

Fitch Ratings, one of the top three U.S. credit analysis agencies, has affirmed the Port of Long Beach’s “AA” rating on its outstanding debt. Fitch stated the AA rating — its highest for U.S. ports — was warranted due to the Port’s strong market position, resilient, long-term revenues from Port tenants, and the Port’s robust ability to service its debt. The rating agency reported that the Port’s $3.2 billion capital improvement program through fiscal year 2026 ensures a competitive position in the future. “Strong financial metrics” and “considerable liquidity” are expected throughout the plan’s duration. The agency affirmed the AA rating for $867.6 million in outstanding bonds and a “AA-” rating on an existing…

The Long Beach Board of Harbor Commissioners has approved an $829 million budget for the Harbor Department’s next fiscal year, including more than a half a billion dollars for capital improvements at the Port of Long Beach. The budget, which will be presented to the Long Beach City Council for its consideration, designates $555 million for capital investments including the Port’s major terminal redevelopment and bridge replacement projects. For the fiscal year starting Oct. 1, 2015, the budget anticipates a 6.1 percent increase in operating revenue over the current fiscal year’s income.

Long Beach Mayor Robert Garcia, Harbor Commissioners and senior Harbor Department staff are traveling to several Asian countries, meeting with the Port of Long Beach’s key customers to retain and bring more business to Long Beach. The Long Beach officials are scheduled to meet with senior leadership of shipping lines based in China, Hong Kong, Taiwan, Korea and Japan to explain the Port’s competitive advantages for business, and to introduce the new Mayor, Harbor Commissioners and Chief Executive.

Port, City and Caltrans officials, along with an international team of builders and designers, celebrated a key milestone today in the Gerald Desmond Bridge Replacement Project: Construction of the first set of bridge foundations is under way. “This new iconic bridge represents our future and it’s very exciting to see the construction in full swing,” said Long Beach Mayor Robert Garcia. When completed, the new bridge spanning the Port of Long Beach will be one of the tallest bridges of its kind in the United States. With two 515-foot towers and a majestic cable-stayed design, the new bridge will be an icon for Long Beach and Southern California visible from miles away.

Fitch Ratings has assigned an 'AA-' rating to the Port of Long Beach's $325 million TIFIA loan agreement, issued by the city of Long Beach, California for the Gerald Desmond Bridge Project, according to 'Business Wire'. The Rating Outlook is 'Stable'. The rating on the TIFIA loan reflects the subordinate claim on gross revenues, together with the port's strong market position as the second largest U.S. container port, with resilient revenues stabilized by long-term contractual guarantees that are sufficient to cover both the port's outstanding senior debt obligations and the subordinate TIFIA loan. Going forward, contractual guarantees…

High-tech cranes, bigger ships, cleaner skies and more jobs ― that’s the way Al Moro, Acting Executive Director of the City of Long Beach Harbor Department, summed up the Port of Long Beach’s 2013 and the expectations for the year just started, at Thursday morning’s biggest-ever State of the Port address. Harbor Commission President Doug Drummond introduced Moro with his own hopeful outlook for 2014 during the annual event, which this year drew an audience of more than 700 at a downtown Long Beach hotel.

Thomas Fields, President of the Long Beach Board of Harbor Commissioners, has given his official inaugural speech, outlining his plans to launch a 100-day "listening tour" with Port customers and other stakeholders, and to pursue the development of "maritime industry clusters" to enhance the Port's economic benefits to the region. Fields was elected as Board President on June 17, 2013, by his fellow board members, to a one year term from July 2013 through June 2014. The President of the Harbor Commissioners said: "... Now let’s go back to the future.

The Long Beach Board of Harbor Commissioners appoint chief harbor engineer Al Moro as the Port of Long Beach’s interim executive director. Moro, who joined the Port in 1997 as a civil engineer, currently oversees all administrative and technical activities for the Port’s engineering programs, including nearly $4 billion in capital improvement projects. “The Board is extremely pleased that we have unanimously selected Al Moro as our interim executive director. He is highly respected by all of the commissioners, very well regarded in our industry, and well liked by the Port staff.

Port of Long Beach (POLB) modernization projects created 5,166 new construction-related jobs in the region in 2012. The number of new jobs is mainly linked to the award of contracts for the design and building of the Gerald Desmond Bridge replacement and an ongoing terminal makeover. In 2012, the Port awarded a $650 million design-build contract for the bridge project and major contracts for the Middle Harbor Redevelopment Program. Other contracts awarded in 2012 included environmental work, security upgrades, shore power installations for terminals and other infrastructure.

The Long Beach Board of Harbor Commissioners has approved a $649.5 million contract with a joint venture team headed by Shimmick Construction Co. Inc., FCC Construction S.A. and Impregilo S.p.A. (SFI) for the design and construction of a replacement for the Port of Long Beach’s obsolete and deteriorating Gerald Desmond Bridge. Final design and engineering will begin shortly, and construction of the new bridge is to start in 2013 and is scheduled for completion in 2016. The…

More than 200 turn out to for Port of Long Beach Executive Director Honored by the Containerization & Intermodal Institute. The Connie Award was presented by the Containerization and Intermodal Institute (CII) to Richard D. Steinke, who will retire this month as executive director of the Port of Long Beach. Mr. Steinke was honored for his leadership role in developing the Port into one of the world's largest container harbors. More than 200 people attended the industry-wide dinner event held on September 21, at the Renaissance Hotel.

Long Beach, CA (May 9, 2011) -- Richard D. Steinke, who will retire this year as executive director of the Port of Long Beach and who was instrumental in developing the Port into one of the world's largest container harbors, has been selected to receive the Connie Award to be presented on the West Coast by the Containerization & Intermodal Institute (www.containerization.org). The industry-wide dinner event honoring Mr. Steinke will be held on Wednesday, September 21, at the Renaissance Hotel in Long Beach, CA.

Coast Guard Sector Los Angeles-Long Beach and California Fish and Game personnel are investigating the cause of an unintentional discharge of 710 gallons of diesel fuel oil from the Motor Tanker Aljalaa, during an internal transfer of diesel at Tesoro’s Terminal at Berth 84A in the Port of Long Beach, Feb. 21 at approximately 7:30 p.m. The USCG, DFG, and the vessel's emergency response management company, O’Brien’s Response Management, immediately established a Unified Command at the Tesoro Long Beach Terminal to provide an aggressive and timely response to the incident and to answer any media and general public calls. Several oil spill response organizations responded to contain and to recover discharged product, and to minimize environmental impacts.