The Los Angeles Board of Harbor Commissioners has approved a new 30-year lease agreement with Yusen Terminals, extending the terminal operator’s presence at the Port of Los Angeles through 2056.
Yusen Terminals, which is owned by container shipping line Ocean Network Express (ONE), operates berths 212-224 at the port. The company has maintained a presence at the Port of Los Angeles since 1991.
The extended lease provides Yusen Terminals with the long-term certainty needed to invest an estimated $200 million in zero-emission cargo-handling equipment.
“This agreement gives us the long-term certainty to continue investing in our terminal, our people and new technology while providing the reliable service our customers expect,” said Alan McCorkle, President and CEO of Yusen Terminals.
The operator has already begun transitioning toward zero-emission and hydrogen fuel-cell-powered handling equipment. Its initiatives include the use of electric top handlers, forklifts and yard tractors as part of its efforts to reduce emissions from terminal operations.
Port of Los Angeles Executive Director Gene Seroka welcomed the company’s continued commitment to the port’s environmental objectives.
“Their commitment to excellence and willingness to work closely with us have been invaluable, especially in advancing our clean air initiatives,” Seroka said. He added that when the port called on its terminals to test and adopt zero-emission equipment, “Yusen Terminals immediately stepped up.”
