View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 4, 2018

Macquarie commits $130m for Port of LA’s new container facility

Australia-based Macquarie Principal Finance has completed a strategic transaction with the Harbor Performance Enhancement Center (HPEC) to provide around $130m for the development of a new container staging facility at Terminal Island in the Port of Los Angeles (POLA), US.

Australia-based Macquarie Principal Finance has completed a strategic transaction with the Harbor Performance Enhancement Center (HPEC) to provide around $130m for the development of a new container staging facility at Terminal Island in the Port of Los Angeles (POLA), US.

HPEC is a public-private partnership between POLA and a consortium organised by Los Angeles-based financier Jonathan Rosenthal in order to provide sustainable freight movement and supply chain efficiencies across the US.

Development of the 5.5 million square foot container staging hub will involve the conversion of 110 acres of space that is currently fallow, as well as bringing the latest technology and operating capabilities to enhance the freight flow through POLA.

Once completed, the HPEC facility will be able to take 3,500 truckloads per day from nearby container terminals to the staging area.

HPEC will also be able to improve cargo flow, increase velocity, reduce emissions, create jobs, and enhance the efficiency of imported containers passing through the 14 marine terminals at the San Pedro Bay complex, which currently supports 42% of all the imports in the US.

“The HPEC facility will be able to take 3,500 truckloads per day from nearby container terminals to the staging area.”

It will also comprise an educational component at an on-site facility that will be used as a laboratory to facilitate learning, collaboration, as well as develop innovative ideas among stakeholders in the goods movement industry, academia, and other related organisations.

HPEC founder/CEO Jonathan Rosenthal said: “The HPEC development presents a truly unique opportunity to make the San Pedro Harbor the most competitive gateway for transpacific freight while reducing community impacts of the nation’s most important artery.

“HPEC will increase productivity at the Port by 10% or more.”

Development of HPEC is expected to be completed within a period of three years.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology