Harbor Commission OK’s Sale Of Long Beach Container Terminal
Yesterday, the Long Beach Board of Harbor Commissioners approved an agreement finalizing the transfer of ownership of Long Beach Container Terminal from Orient Overseas International Line (OOIL) to Macquarie Infrastructure Partners (MIP). The sale was required by the United States government in order for COSCO Shipping Holdings to complete its acquisition of OOIL, a deal first announced in 2018. MIP operates within Macquarie Infrastructure And Real Assets, a subsidiary of Australia-based Macquarie Group Limited. Long Beach Container Terminal is located within the Port of Long Beach’s Middle Harbor, and is in the midst of a nearly $1.5 billion infrastructure development project that will enable the terminal to handle more than three million twenty-foot equivalent units of containerized cargo annually. “This was a series of complex negotiations involving multiple parties, with oversight from a government-appointed board of trustees, and subject to terms of a national security agreement,” Deputy Executive Director Noel Hacegaba stated at the meeting, adding that the sale is in alignment with the port’s interests.
Port Of Los Angeles Continues Streak Of Cargo Gains
For the fifth month in a row, the Port of Los Angeles set another single-month cargo record, having had its busiest August ever. Last month, the port moved 861,081 twenty-foot equivalent units of cargo, a 4.2% increase compared to the same month last year. The largest share of this increase was attributed to the shipment of empty containers overseas, traffic which grew 13.8% in August compared to the same month in 2018. Imports increased 4.1%, while exports decreased by 10%. Overall cargo volumes moving through POLA have increased 5.7% during the first eight months of 2019 compared to the same period last year. Gene Seroka, executive director of the port, noted in a prepared statement that during the final months of 2018, there was “an extraordinary influx of imports” meant to beat out expected tariffs on Chinese goods. “We don’t expect to see those kind of volumes in the months ahead,” he stated. “We need a negotiated settlement of the U.S.-China trade war to restore trade globally.”
Leadership Long Beach Begins Search For New Executive Director
Leadership Long Beach, a local leadership and community engagement organization, announced this week that it is conducting a search for a new executive director after Jeff Williams, who currently serves in the position, announced his pending departure. Williams, who has led the organization for 10 years, will step down following the selection of a new executive director. Leadership Long Beach’s search committee is looking for a qualified candidate who will fulfill the organization’s mission to empower individuals and establish a team-building approach. Click here for details. The deadline to apply is September 17 at 11:59 p.m.
MemorialCare Long Beach Medical Center Names New Chief Medical Officer
City College Foundation Appoints New Executive Director
Local Pollution Abatement Firm Announces New VP Of Sales
Coworking Space To Host Startup Competition
Ironfire, a coworking space located at 4195 N. Viking Way, is hosting its Founders Live competition on Wednesday, September 18, at 7 p.m. The competition features representatives from five startup companies who each have 99 seconds to pitch their business idea in front of a voting audience. The event includes networking opportunities, according to Ironfire. Free early-bird tickets are still available for a limited time at Eventbrite.com.