Historic terminal lease inked at POLB

The Middle Harbor development project is the “crown jewel” in the POLB container terminal portfolio
The Port of Long Beach (POLB) and Orient Overseas Container Line (OOCL) have signed a $4.6bn 40 year lease agrement for the new Middle Harbor container terminal.

The Middle Harbor development project is the “crown jewel” in the POLB container terminal portfolio
The Port of Long Beach (POLB) and Orient Overseas Container Line (OOCL) have signed a $4.6bn 40 year lease agrement for the new Middle Harbor container terminal.
This is a really significant agreement for both port and operator – the “largest and most far-reaching” ever signed at POLB in terms of length of lease. The deal also helps to further solidify an enduring relationship – OOCL has been at Long Beach since it entered into US trade in 1969.
The deal means that the two partners will combine forces in what POLB deem to be a radical new design in north American container terminal operations – the Middle Harbor container terminal project.
Sean Strawbridge, managing director, trade development & port operations at POLB, said to Port Strategy: “It presents a new operating paradigm which will double capacity and productivity of the facility through the introduction of new container handling techniques. Yet these new technologies will reduce terminal emitted pollutants by well over 50%, with a target of 90% of terminal operations based emissions reduction once fully operational.”
The Middle Harbor development project will increase capacity of the facility to over 3m teu and “big ship ready.” POLB state that it will be the “crown jewel” in the port's container terminal portfolio.
Mr Strawbridge added: “This is just one example of where the Port of Long Beach invests its capital. The result is sustainable growth in our business, in jobs for our region, and ultimately a strategy to make our nation more competitive."
With such innovative changes comes an element of risk. But managed properly, the Port of Long Beach and its partner, OOCL , is absolutely confident of the success of the terminal. “If we weren’t, we wouldn’t make such a bold move in an otherwise challenging economic era”, he said.