6:00am | According to a press release from the Port of Long Beach, Executive Director J. Christopher Lytle announced that the Port and Orient Overseas Container Line CEO Phillip Chow signed a $4.6 billion, 40-year lease for the new Middle Harbor container terminal at a ceremony at OOCL’s Hong Kong headquarters this past Tuesday. It marks the largest terminal lease at the Port.
The inking of the historic agreement was celebrated by officials from the Port and OOCL. They were joined by labor and maritime industry leaders representing the International Longshore and Warehouse Union and the Pacific Maritime Association.
The lease gives OOCL and its subsidiary, Long Beach Container Terminal, LLC, exclusive use of the facility for 40 years. It will be the Port’s most technologically advanced and greenest terminal.
The International Longshore and Warehouse Union (ILWU) joined in showing support for the project and the terminal. Attending from the ILWU was International President Robert McEllrath, ILWU International Vice Presidents Wesley Furtado and Ray Familathe, ILWU Local 13 President Joe Cortez, ILWU Local 63 President Michael Podue and ILWU Local 94 President Daniel Miranda.
The Port will host a ceremonial ground breaking event in Long Beach in May to commemorate the historic partnership and the development.