A container is loaded onto a cargo ship from a gantry crane at the Long Beach Container Terminal at the Port of Long Beach in Long Beach, Calif. Photo: Tim Rue/Bloomberg News By Costas Paris May 5, 2019 8:00 a.m. ET Macquarie Infrastructure Partners has an important piece of financial support in its bid to build up its role in U.S. shipping.
LBCT is one of the best-performing cargo-port operations in North America. It more than doubled its container volumes from 2014 to 2018, when more than 1.6 million boxes passed through its gates. LBCT is a pillar of the Long Beach port, the second-busiest container port in the U.S. behind the neighboring Port of Los Angeles. It handles a fourth of the port’s eight million containers a year, which are mainly Asian imports. The port will have a capacity to handle around 3.3 million containers by 2022.
The pact gives Macquarie a cushion against seasonal downturns, trade tensions and the potential impact of deeper changes in supply chains. Despite LBCT’s growth, figures suggest companies have diverted shipments toward East Coast ports since the widening of the Panama Canal in 2016, casting a cloud over the Pacific Coast gateways.
The terminal has two berths and a third coming online by 2022 that will boost its container handling capacity by 50%. When completed, the new facility will be able to handle some of the industry’s biggest container vessels. Some cargo is even moving through the third berth while it is still under construction.
It’s likely China’s shadow money?! realDonaldTrump, please look into this issue, sir: A decade ago, we blocked a China bid to acquire a L.A. port ... They’ve used the back door now?
Buy a bit cheaper bit cheaper bitch instead
Not sure why we are giving strategic assets to the treacherous Australians who pretend to be Allies but schemed to help Hillary in the election.
How can the USA allow ports of entry to be owned by foreign countries. Does this make sense to anyone. I know it’s Australia but what if it’s not Australia and someone else next time.