Mediterranean Shipping Co., the world's second largest container carrier, has decided to purchase a stake in the leasehold for the marine terminal operations at Pier T, the largest container terminal in Port of Long Beach, said the port's Executive Director J. Christopher Lytle.
The facility is currently operated by Total Terminals, a subsidiary of Hanjin.
In December, CMA CGM, the world’s third largest ocean carrier, bought a stake in Pier J, the property operated by SSA Marine and Chinese carrier COSCO. MSC already holds a financial interest in the terminal operations at Pier A, controlled by SSA.
MSC and CMA CGM operate some of the biggest containerships in the transpacific trade. The MSC Beatrice
, for example, has the ability to carry 13,798 TEUs.
Art Wong, a spokesman for the port, said MSC bought a minority interest in the lease from Total Terminals International. "We are not a party to this deal, so we don't know the details," he explained.
"This investment gives MSC access to Pier T for their big ships, and with this stake, they have a financial incentive to bring their cargo to Long Beach," Wong said.