LOS ANGELES, July 11 (Reuters) - The Los Angeles and Long Beach port complex, the nation's busiest and the No. 1 for ocean trade with China, - handled 5.1%fewer inbound containers of cargo in June, as the trade standoff between Washington and Beijing disrupts global supply chains. Imports to the smaller Port of Long Beach dropped 13.7% from June 2018, more than offsetting … [Read more...]
Ships Reduce Speed for Cleaner Air at the Port of Long Beach
The Port of Long Beach is applauding the voluntary slow down of ships calling at the port as part of the Port’s Green Flag Incentive Program, which offers financial incentives for vessels to reduce speed near the port to reduce the amount of air pollution. More than 135 shipping lines are now participating in the program requiring ships to slow to 12 knots or less within 20 … [Read more...]
Imports at Ports of Los Angeles and Long Beach Fall in May
LOS ANGELES, June 12 (Reuters) - The Los Angeles and Long Beach port complex - the No. 1 hub for U.S. ocean trade with China - processed 6.3% fewer inbound cargo containers in May, signaling that the escalating U.S.-China trade war is roiling business activity. Exports from the California seaport complex, the nation's busiest, fell 7.4% year-on-year, the two ports … [Read more...]
Port of Long Beach Container Volumes Fall in First Quarter of 2019
The Port of Long Beach container volumes fell 4.7 percent in the first quarter of 2019 compared last year as the rush to beat tariffs eased. The Port of Long Beach reported Wednesday moving more than 1.8 million twenty-foot equivalent units (TEUs) January through March. Despite lingering trade uncertainty, the quarter still marked the second-busiest first quarter in the … [Read more...]
Yilport Is Said in Talks for $2 Billion California Terminal Deal
By Gillian Tan, Vinicy Chan and Ercan Ersoy (Bloomberg) -- Turkey’s Yilport Holding AS is in advanced talks to buy a container terminal in Long Beach, California, a deal that would value the facility at close to $2 billion, people with knowledge of the matter said. The discussions between Yilport, owned by Robert Yuksel Yildirim, and terminal owner Cosco Shipping Holdings … [Read more...]