Retailers, Manufacturers Urge White House to Mediate in West Coast Ports Labor Dispute
Groups representing major retailers and manufacturers urged the White House on Monday to intervene in contentious West Coast port labor negotiations, citing worries about shipping disruptions during critical holiday shopping seasons.The call came after the largest terminal at Southern California's Port of Long Beach closed on Monday as dock workers rally for better pay. Monday's closure followed similar disruptions on Friday in Oakland, California.More than 22,000 dockworkersâŚ
US West Coast Port Labor Unrest Continues Amid Pay Quarrel
The largest terminal at Southern California's Port of Long Beach closed on Monday as dockworkers who have been working without a contract since July rally for better pay.The Port of Long Beach is the second-busiest U.S. container terminal and a key trade gateway. Monday's closures followed similar disruptions on Friday in Oakland, California.Total Terminals International LLC (TTI) in a notice to customers said all appointments were canceled for the first gate shift. Mediterranean Shipping Company SA (MSC)âŚ
PoLB Receives Cleanest Ship to Visit U.S.
Mediterranean Shipping Companyâs MSC Jewel, the cleanest container ship to visit the United States, has stopped by the Port of Long Beach (PoLB).According to a release from the second-busiest container port in the United States, after the Port of Los Angeles, which it adjoins, MSC Jewel arrived at Total Terminals Internationalâs Pier T facility on July 12.The ship, 1,200 feet long with a capacity of 14,436 twenty-foot equivalent units, was built in 2019 and is powered by Tier III diesel engines (main propulsion and auxiliary power), which are 75% cleaner than the Tier II standard set by the International Maritime Organization.âTier III ships just started entering the global fleet.
Latest Innovations in Heavy Duty Machinery
In the first of a series of marine industry sector reviews, MR&EN correspondent Tom Mulligan reports on the latest innovations in heavy lifting machinery technology with a selective overview of new product launches and recent equipment installations on board ships, ferries and workboats, as well as in ports, docks, harbors and shipping terminals worldwide. Markey Machineryâs Render/Recover and Asymmetric Render/Recover âactive heaveâ compensating winches have been recognized asâŚ
MSC Mulls Stake in Messina
The world's no. 2 container line Mediterranean Shipping Company (MSC) is in talks to acquire a stake in smaller Italian counterpart Messina, the Swiss-headquartered group said, in another sign of consolidation in the sector. Container lines are battling their worst ever downturn due to a glut of ships and weaker demand - prompting rivals to form vessel-sharing arrangements or pursue other measures including mergers and acquisitions. Privately owned MSC said it had held a meeting on Friday in Genoa with Messina and senior management from lender Banca Carige. "The aim of the meeting was the possibility of an entry by MSC Group into the shareholding of the Genoa-based group," MSC said in an emailed statement sent on Tuesday.
Port Traffic Surges at Long Beach
Renewed activity at the Port of Long Beachâs largest terminal and extra ships calling ahead of the Lunar New Year pushed cargo 8.7 percent higher in January compared to the same month a year ago. Dockworkers moved 582,689 twenty-foot equivalent units (TEUs) last month. Exports were strong, jumping 10.8 percent year-over-year to 118,234 containers. Imports increased 7.4 percent to 298,990 TEUs, while empties sent back to the Far East rose 9.6 percent to 165,465. Growth at terminals was led by the Portâs Pier T terminal, operated by Total Terminals International (TTI). The terminal is now controlled by Terminal Investment Limited (TIL), a subsidiary of Mediterranean Shipping Co. (MSC), the worldâs second-largest ocean carrier.
Swiss Group MSC Acquires Hanjin's Stake in U.S. Ports Operator
A unit of Swiss shipping group MSC has bought a stake in U.S. ports operator Total Terminals International (TTI) from Hanjin, MSC said on Wednesday, having overcome objections from the South Korean line's U.S. creditors. Privately owned MSC, the world's no.2 global shipping line, said in a statement its subsidiary Terminal Investment Ltd. (TiL) had completed the acquisition in conjunction with South Korea's Hyundai Merchant Marine (HMM), which would see TiL assuming an 80 percent stake and HMM having the remaining 20 percent in TTI. Last month, a U.S. judge gave the green light for the sale of failed Hanjin's stake in TTI despite objections from container companies owed money by Hanjin, concerned whether the shipping group was getting the best price.
HMM Acquires 20% Stake in Long Beach Terminal
South Korean shipping line Hyundai Merchant Marine Co. (HMM) said it will buy a fifth of the company that runs the biggest container terminal at Long Beach Total Terminals International terminal (TTI), Calif., the U.S.âs second-largest port. HMM announced that its board of directors decided to buy a 20-percent stake in TTI and equipment-leasing firm HTEC for a combined US$15.6 million. HMM will now become the No. 2 stakeholder in TTI after Geneva-based Mediterranean Shipping Co (MSC). TTI operates terminals at Seattle and Long Beach. HMM will receive the same port tariff rates with MSC, and it will help reduce terminal handling costs and secure stable profitability. Also, MSC will stand surety for TTIâs loans and lease which means HMM is not responsible for TTIâs debts.
Hanjin Shipping's Sale of Total Terminals Okayed
Bankrupt South Korean shipping line Hanjin Shipping Co Ltd won U.S. court approval at a hearing on Wednesday for the $78 million sale of its stake in U.S. terminal operator Total Terminals International LLC, overcoming objections of container companies. "My decision is to approve the sale," U.S. Bankruptcy Judge John Sherwood said, adding he would approve the transfer of the sale's proceeds to South Korea. The container companies are creditors of Hanjin and were concerned whether the shipping line was getting top dollar for its 54 percent stake in Total Terminals, which operates container terminals at the ports of Seattle and Long Beach, California, and was rushing to close the transaction. It has already been approved in South Korea. Reporting by Jim Christie
Hanjin Creditors Oppose Terminal Sale
US creditors of Hanjin Shipping Co. Ltd. objected to the Korean courierâs efforts to secure a New Jersey bankruptcy court approval of an asset sale to Mediterranean Shipping Co (MSC), reports WSJ. Geneva-based MSC, the worldâs second largest container operator by capacity, has offered $78 million for container terminal in Long Beach, Calif. A group of container companies and other creditors concerned that Chapter 15 debtor Hanjin rushed through a sale of equity interest in Total Terminals International LLC and Hanjin Shipping TEC Inc. earlier warned that Hanjin may not have fetched the best offers and may sidestep outstanding debts without closer scrutiny. According to the report, in court papers filed Friday with the U.S.
Hanjin Sells Operations at Port of Seattle
Bankrupt South Korean shipping company Hanjin will sell its operations of the Port of Seattleâs Terminal 46 to Switzerland-based Mediterranean Shipping COmpany (MSC) subsidiary Terminal Investment Limited (TIL), reports AP. The Seattle Times reports Hanjin will sell its majority stake in the terminal operating companies at the Seattle and Long Beach ports for $78 million. Hanjin Shipping filed for bankruptcy protection at the end of August, worrying local retailers about the fate of their cargo. Hanjin had been delivering about three major shipments per week to the Port - nearly one-third of the traffic at Terminal 46 - and owned the company that operated the terminal.
Long Beach Approves MSC's Bid for Hanjin Terminal
The Port of Long Beachâs Harbor Commission on Wednesday approved an agreement to replace the bankrupt operator of its largest cargo terminal. The Long Beach Board of Harbor Commissioners greenlighted the move by a subsidiary of Mediterranean Shipping Co. (MSC) to take over sole control of the long-term lease of the portâs 381-acre Pier T container terminal from from Hanjin Shipping, a South Korean ocean carrier that declared bankruptcy on August 31. Previously, MSC held a minority stake in the lease for Pier T, where more than a quarter of the Portâs container cargo is moved. The Harbor Commissionâs new agreement with MSC subsidiary Terminal Investment Limited (TIL) also guarantees the accelerated installation of ship-to-shore cranes capable of handling the worldâs biggest container ships.
Long Beach Weighs Offer for Hanjin Terminal
The Long Beach Board of Harbor Commissioners will consider a proposal by a terminal investor to take over a majority stake in a long-term lease to operate the largest container terminal in the Port of Long Beach. If approved, the pact could bring in business to replace the cargo volume lost at Long Beachâs Pier T when South Koreaâs Hanjin Shipping declared bankruptcy in August. Terminal Investment Limited (TIL), a subsidiary of the Mediterranean Shipping Co. (MSC), earlier this week announced it had signed an agreement to purchase Hanjin Shippingâs stake in the terminal operator at Pier T.
Hanjin Sells US Terminal Stake to MSC
South Korean ocean carrier Hanjin Shipping Co. signed a deal to sell its stake in the U.S. port operator that runs Long Beach, Calif.âs, biggest container terminal to Mediterranean Shipping Co. (MSC), reports WSJ. Hanjin, which for bankruptcy protection in August, had signed a contract to sell its 54% stake in Total Terminals International LLC to Geneva-based MSC, the worldâs second largest container operator by capacity. The exact value of the deal wasnât known. The Seoul Central District Court handling Hanjinâs insolvency proceedings approved the deal on the condition it also is endorsed by a U.S. Bankruptcy Court and the U.S. port authority. Hanjin owned a 54% stake in Total Terminals International, while MSC had controlled the remaining 46%.
Long Beach Container Counts Soft
The Port of Long Beach said shifting alliance routes and the Hanjin bankruptcy continued to affect its volumes in November, when container traffic was 13.8 percent lower than the same month last year. A total of 534,308 twenty-foot equivalent units (TEU) were moved through the harbor last month. Imports fell 11.8 percent to 270,610 TEU. Exports declined 3.1 percent to 120,897 TEU, while empty TEUs numbered 142,801, 24.2 percent off. The port experienced its second-best November ever in 2015âŚ
Two Final Bids for Hanjin
Bankrupt Hanjin Shipping Co has received two final bids for its Asia-U.S. route and its 54% ownership in the Long Beach terminal, the Wall Street Journal reported. Hyundai Merchant, South Koreaâs largest shipping line, and Korea Line, a smaller operator, have both submitted proposals to acquire Hanjinâs trans-Pacific assets. In their proposals, both companies also expressed their intention to purchase Hanjinâs 54% stake in Total Terminals International LLC, which runs Long Beach Terminal in California. The bidders declined to provide further details, such as bidding prices for Hanjinâs assets. A judge at the Seoul Central District Court, which is handling Hanjin's insolvency proceedings, said the court planned to choose a preferred buyer by Monday and sign a formal contract by Nov. 21.
Long Beach Port Leads Way to Clear Backlog of Containers Due to Hanjin Bankruptcy
The Port of Long Beach is helping to clear a significant backlog of empty cargo containers from Southern California and free up the chassis they sit on, as part of an agreement with terminal operator Total Terminals International (TTI) to bring in a container ship to remove up to 4,300 empty containers. The bankruptcy of Hanjin Shipping declared on Aug. 31 resulted in a significant buildup of empty containers across Southern California, tying up the chassis they rest on. âThe Port of Long Beach recognized the urgency to alleviate the shortage created by the estimated 6,000 Hanjin-leased containers sitting on chassis which are needed throughout Southern California to move goods in and out of the region,â said Lori Ann Guzmán, President of the Board of Harbor Commissioners.
Hanjin Talks on Long Beach Sale
Hanjin Shipping Co Ltd is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A.(MSC), reports Reuters. The court overseeing Hanjin's receivership says the company is negotiating with MSC, it's partner in the terminal and which has first right of refusal. Hanjin Shipping owns a 54 percent stake in Total Terminals International LLC, which operates Long Beach Terminal in the U.S. MSC owns the remaining 46 percent. It has appointed an advisor, an overseas firm specializing in shipping industry talks, to help with the negotiations. Hanjin, the first major shipping line to be dragged down by global industry overcapacity and low freight ratesâŚ
Long Beach Port Acquires 125 Acres for Cargo Ops
U.S. Navy, Maritime Administration and California Environmental Protection Agency representatives joined City and Port officials today to commemorate the approval to transfer ownership of 125 acres of the former Naval Complex to the City of Long Beach. The property transfer commemoration highlighted the economic success of a thriving shipping terminal and other operations at the former Navy facility. Today, the Pier T container terminal is one of the Port of Long Beachâs busiest â able to accommodate megaships and handling billions of dollarsâ worth of trade. The acreage was part of the former Long Beach Naval Station and Naval ShipyardâŚ
Port Industry Expects Growth in 2016
At the 12th annual âPulse of the Ports Peak Season Forecast,â panelists told the audience of about 550 people that cargo growth should continue through 2016 even though uncertainty remains as the economy and industry continue to evolve. One of the panelists, Senior Economist Mario Moreno, IHS Maritime & Trade, stated that containerized imports from Asia will grow at about 5.5 percent in 2016. He also stated that the overall U.S. economy would grow by about 2.3 percent. Each springâŚ
Long Beach Cargo Operations Resume
The Port of Long Beach resumed full cargo-handling operations Thursday, Aug. 28, after a lessening of storm surges from Hurricane Marie that had battered south-facing piers and interrupted the loading and unloading of four vessels a day earlier. With swells down to 8 to 10 feet, from a peak of 15 feet or more on Wednesday, Total Terminals International on Pier T went back to work on two Mediterranean Shipping Co. container ships. Crescent Terminal on Pier F also resumed the unloading of Mercedes-Benz automobiles and wind towers from two vessels.
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 wave surges powered by Pacific Hurricane Marie endangered longshore workers. Total Terminals International on Pier T, with two Mediterranean Shipping Co. container ships at berth, and Crescent Terminals on Pier F, with two break-bulk ships including a MOL roll-on, roll-off vessel at berth, stopped working the ships late Tuesday. There was flooding reported at Crescent.
Port of Long Beach Expands Education Plan
The Port of Long Beach announced Tuesday, May 13, the award of education scholarships totaling $43,500 to 28 local high school and college students. At the same time, the Port introduced an expanded Education Outreach Plan at the âCelebrating Education Receptionâ held at the Museum of Latin American Art. The Education Outreach Plan, which was approved by the Board of Harbor Commissioners on Monday, May 12, will dedicate $150,000 in seed money for three key initiatives: a new online education portal, a maritime career exploration fair in the fall and a teacher externship program in summer 2015.