Marine terminal and shipping industry executives applauded the latest relief program that will save Port of Los Angeles tenants about $25.7 million in the coming year.
The harbor commission approved a temporary 6 percent rent reduction for container terminal operators, an empty container discount and reduced rates for containerized cargo transferred from one vessel to another within the port.
This package of savings, most of which will be realized during the first six months of 2010, is in addition to a $15 million relief program involving intermodal container discounts that Los Angeles put into effect this past year.
Executive director Geraldine Knatz said that even though the worst of the economic recession is over, the reduced port charges will help port tenants remain competitive and should help protect the port’s market share.
The Pacific Merchant Shipping Association, which represents shipping lines and terminal operators, commended the nation’s largest container port. “The port recognizes the growing competitive challenges facing our industry,” said Michele Grubbs, vice president.
Frank Pisano, vice president of terminal operator TraPac, said that during these challenging times, “the Port of Los Angeles has stepped up and delivered a substantial relief package to its customers.”
The harbor commission approved a temporary 6 percent rent reduction for container terminal operators, an empty container discount and reduced rates for containerized cargo transferred from one vessel to another within the port.
This package of savings, most of which will be realized during the first six months of 2010, is in addition to a $15 million relief program involving intermodal container discounts that Los Angeles put into effect this past year.
Executive director Geraldine Knatz said that even though the worst of the economic recession is over, the reduced port charges will help port tenants remain competitive and should help protect the port’s market share.
The Pacific Merchant Shipping Association, which represents shipping lines and terminal operators, commended the nation’s largest container port. “The port recognizes the growing competitive challenges facing our industry,” said Michele Grubbs, vice president.
Frank Pisano, vice president of terminal operator TraPac, said that during these challenging times, “the Port of Los Angeles has stepped up and delivered a substantial relief package to its customers.”