The U.S. Green Building Council-Los Angeles has named Long Beach Container Terminal its “Sustainable Innovation Project of the Year.”
Long Beach Container Terminal (LBCT), one of the busiest cargo-handling terminals in the world, was honored for the scale and positive impact of its 15-year effort to convert its cranes and cargo-handling vehicles to zero-emission electric.
The massive effort has resulted in an 86% reduction in greenhouse gas and criteria pollutant emissions to date, while...
The Port of Long Beach sailed past the previous April cargo-handling record by more than 118,000 twenty-foot equivalent units (TEUs).
“An ongoing cargo boom largely driven by online purchases lifted the Port of Long Beach to its strongest April on record,” this week’s press release said.
The port moved 746,188 TEUs in April, a 43.6% increase from the same month last year, when West Coast port volumes dramatically declined at the height of the COVID-19 pandemic. It was the first time the Port of...
https://s29755.pcdn.co/news/ongoing-cargo-boom-drives-port-of-long-beachs-record-april
Two key trade associations representing drayage companies that operate in the ports of Long Beach and Los Angeles are asking for a temporary suspension of detention and demurrage charges from the key entry ports that are currently overwhelmed with business.
Citing a chassis shortage that was described as effectively “none available,” the Harbor Trucking Association and the California Trucking Association released a statement Thursday that said cargo flow at the ports are “nearing a complete...
Two shipping terminals at the Port of Long Beach are putting new, zero-emissions equipment known as top handlers through the rigors of operating in a real world environment to test their ability to meet the challenging duty cycle at a busy seaport.
The terminals, Long Beach Container Terminal and SSA Marine at Pier J, will demonstrate three never-before-tested Taylor battery-electric top handlers (two at SSA and one at Long Beach Container Terminal) for approximately six months. International...
https://container-news.com/zero-emissions-yard-equipment-enters-polb-service/
Orient Overseas Container Line (OOCL) has sold of Long Beach Container Terminal to a Macquarie Infrastructure Partners (MIP)-led consortium for $1.78bn.
The deal was originally announced in April. According to the agreement, OOCL sold 100% of shares of the terminal.
LBCT LLC operates the terminal, which is located in the Port of Long Beach in California, US.
OOCL parent company OOIL, Faulkner Global, the US Department of Homeland Security and the US Department of Justice have signed National...
https://www.ship-technology.com/news/oocl-long-beach-container-terminal-2/
The terminal was sold as part of COSCO’s USD 6.3 billion takeover of OOIL.
https://worldmaritimenews.com/archives/285338/ooil-wraps-up-long-beach-container-terminal-sale/
The sale of state-of-the-art Long Beach Container Terminal (LBCT) by OOCL to a consortium led by Australia’s Macquarie Infrastructure Partners (MIP) eventually gives us a benchmark in terms of valuation for such assets, putting to rest the speculation that LBCT could have either fetched a stellar valuation (over $2bn) for the seller or a bargain deal (around $1bn) for the buyer.
In short, the price seems fair, and negotiations did not drag unnecessarily. …
The post Supply chain radar: The...
OOCL has agreed to sell its state-of-the-art Long Beach Container Terminal (LBCT) to a group of institutional investors led by Australia’s Macquarie Infrastructure Partners (MIP) for $1.78bn – less than the reported $2bn it cost to build.
The sale is the final condition for Cosco’s takeover of OOCL: last year, the US departments of Homeland Security and Justice decreed the terminal must be divested from the Cosco/OOCL portfolio for the purchase …
The post OOCL to sell Long Beach Container...
https://theloadstar.com/oocl-to-sell-long-beach-container-terminal-to-investors-led-by-macquarie/
Hyundai Merchant Marine is not interested in the purchase of Long Beach Container Terminal (LBCT).
I have wondered how to value certain “strategic” infrastructure assets in the shipping world ever since we reported last year that COSCO appeased US security concerns over its acquisition of OOIL and its container arm OOCL by agreeing to concede ownership of the OOCL-operated Long Beach Container Terminal (LBCT) to a US trust pending its sale to a third party.
That sale now is expected to complete by mid-2019, so it seems …
The post Supply chain radar: What price will the Long Beach Terminal...
https://theloadstar.co.uk/supply-chain-radar-running-numbers-long-beach-terminal-sale/