Mediterranean Shipping Co. has decided to buy a stake in the
leasehold for the marine terminal operations at Pier T, the Port of Long
Beach’s largest container terminal, port Executive Director Chris Lytle
announced during his annual “State of the Port” address Jan. 31.
“I am proud to announce that the Mediterranean Shipping
Company, the second-largest shipping line in the world, has increased its
investment in the Port of Long Beach by partnering with Total Terminal
International at Pier T. This essentially doubles their stake here at Long
Beach,” he said. “MSC already has an interest in Pier A, but this decision
makes Long Beach the carrier’s West Coast hub, ensuring it will move more cargo
through our port.”
Port of Long Beach is MSC’s biggest West Coast hub of
operations, and Pier T is the port’s largest container terminal. The decision
by Mediterranean to increase its investments at the terminal is the second such
move by a leading shipping company in recent months.
The port announced in December that CMA CGM, the world’s
third-largest ocean carrier, had purchased a stake in Pier J in Long Beach.
“For those of you who have been keeping tally, yes, that’s right:
two of the world’s top three ocean carriers are now here in Long Beach,” Lytle
said during his speech, which took place in front of hundreds at the Long Beach
Convention Center’s Grand Ballroom, which seats up to 2,100.
The Swiss-based MSC and CMA CGM, of France, have been coming
to the Port for years, but their direct investments mean Long Beach will be
their exclusive gateway in Southern California, bringing more trade. MSC and
CMA CGM operate some of the biggest containerized cargo ships in the
trans-Pacific trade. The MSC Beatrice, for example, is among
the latest generation of larger, greener ships. The MSC Beatrice can carry
13,798 container units – more than 70 percent more than the typical “megaship”
of a few years ago.
Also during his address, Lytle touched on various other
topics, including the port’s ongoing 10-year, $4.5 billion rebuilding and
modernization program, which focuses on bringing cleaner and more efficient
facilities to the port. Components include major waterfront improvements at
Middle Harbor and Pier G and a $1 billion project to replace the aging Gerald
Desmond Bridge.
“Ports in Canada, Mexico and right here in the US – on both
coasts – all want a greater share of our business. To stay competitive and keep
jobs here, we must continue to improve our facilities,” he said. “We are
committed to ensuring that the hundreds of thousands of trade-related jobs that
depend on our success stay right here in Southern California.”
