U.S. officials are investigating an explosion inside an export-bound shipping container at a Port of Los Angeles container terminal on Tuesday evening. The U.S. Coast Guard said it was alerted at approximately 6 p.m. on October 30 that a shipping container had exploded at the Evergreen marine terminal located on Terminal Island under the Vincent Thomas Bridge. As a result … [Read more...]
Trump’s Tariffs Could Hit 15 Percent of Los Angeles Port Business, Port Official Says
By Nick Carey June 27 (Reuters) - Tariffs on U.S. imports of Chinese goods imposed by the Trump administration could hit up to 15 percent of goods moving through the Port of Los Angeles once they go into effect, the port's executive director Gene Seroka told Reuters on Wednesday. Seroka said in a telephone interview that according to his data, imports from China coming … [Read more...]
Port of Los Angeles Handled a Record 9.3 Million TEUs in 2017
The Port of Los Angeles last year broke its own record for the most cargo moved annually by a Western Hemisphere port. The Port of Los Angeles reported Friday that supply chain efficiencies helped it to a new all-time cargo volume record in 2017, racking up 9,343,192 Twenty-Foot Equivalent Units (TEUs) handled throughout the year. The new record represents a 5.5 percent … [Read more...]
Port of Los Angeles Sets New All-Time Monthly Container Volume Record
The Port of Los Angeles moved 924,225 Twenty-Foot Equivalent Units (TEUs) in November, the most containerized monthly cargo the Port has processed during its 110-year history, the port said on Friday. The previous record of 877,564 TEUs was set in November 2016. Eleven months through 2017, volumes are up 6.3 percent compared to last year’s record-breaking 8.8 million … [Read more...]
CMA CGM Divests Major Stake in Long Beach Container Terminal
The CMA CGM has completed the sale of a 90% equity interest in Global Gateway South terminal (GSS) at the port of Los Angeles, California. The sale was completed last Friday to EQT Infrastructure III and its partner P5 Infrastructure (P5) for an Enterprise Value of $875 million. CMA CGM acquired the terminal in 2015 as part of its takeover of Singapore’s Neptune Orient … [Read more...]