Mediterranean Shipping Co. (MSC) has purchased a stake in the leasehold for the marine terminal operations at Pier T, the largest container terminal in the Port of Long Beach. It is the second such move by a leading shipping company in recent months. In December, the port announced that French ocean container carrier CMA CGM had purchased a stake in Pier J (Advisory, Dec. 17, 2012). MSC already holds a financial interest in the terminal operations at Pier A in Long Beach.

“The commitments by MSC and CMA CGM fleets underscore the port’s efforts to forge successful partnerships, “said Port Executive Director J. Christopher Lytle. “It’s the strength of its bonds with industry, neighbors and the City of Long Beach at large that has allowed the Port of Long Beach to thrive.”

MSC and CMA CGM operate some of the biggest containerized cargo ships in the trans-Pacific trade, including, for example, the 13,798-TEU MSC Beatrice that called Long Beach last fall.