Yusen Terminals gets 30-year LA port lease

Yusen Terminals will operate its marine terminal at the Port of Los Angeles through 2056. The Los Angeles Board of Harbor Commissioners approved a new 30-year lease this week.

The agreement mandates an additional $200 million investment from Yusen in zero-emission cargo-handling equipment. This supports the port's transition to cleaner operations. Yusen is a unit of Singapore-based Ocean Network Express (ONE).

ONE comprises three Japanese shipping lines: Nippon Yusen Kaisha (NYK Line), Mitsui O.S.K. Lines (MOL), and Kawasaki Kisen Kaisha (K Line).

Yusen has operated at the port since 1991 on a 232-acre site encompassing Berths 212-224. Its annual volume is around 1.5 million TEUs, making it the fifth-busiest of the port's six terminals. The terminal serves vessels from ONE, Hapag-Lloyd, Hyundai Merchant Marine, Wan Hai Lines, and Yang Ming. You can track carrier movements and port calls in our fixtures data.

Port Leadership Praises Partnership

Port of Los Angeles Executive Director Gene Seroka praised the long-term partnership. "We greatly value our longstanding partnership with Yusen Terminals and the role they play in the success of our Port," Seroka said in a release. He highlighted the company's commitment to clean air initiatives.

Seroka noted that Yusen responded quickly when the port asked terminal operators to test and incorporate zero-emission equipment.

Investment in Zero-Emission Technology

The terminal already uses a range of zero-emission and hydrogen fuel-cell equipment. This includes electric top handlers, forklifts, and yard tractors. The new $200 million investment will support further deployment of such technology.

"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 Yusen Terminals President and CEO Alan McCorkle. He expressed pride in the existing operation and excitement for the future.

Yusen's services include stevedoring, terminal operations, and specialized cargo handling. It is one of seven marine terminals at the Port of Los Angeles. The others include APM Terminals (Maersk), Everport Terminal Services (Evergreen Marine), Fenix Marine Services (CMA CGM), and two West Basin Container Terminals operated by China Shipping and Mediterranean Shipping Co. For more analysis on terminal performance and capacity, see our port stats.

The lease extension provides stability for a key container gateway. It comes amid ongoing shifts in global trade lanes.