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LA Port Upgrade Planned by New Owners

The EQT Infrastructure III fund will buy 90% of Global Gateway South, a leading terminal in the Port of Los Angeles, with an enterprise value of $875 million.

EQT Infrastructure has partnered with port operating firm P5 Infrastructure ("P5") to develop a plan aimed at transforming GGS into a world-class operation. Current owner, CMA CGM, will retain a 10% ownership stake in GGS and has entered into a long-term contract as the largest customer of the terminal.

The plan would transform GGS from an asset operated as a cost center into a leading North American terminal in terms of capacity and efficiency. The strategy includes capital investments in cranes, other handling equipment and technology to increase capacity and efficiency. Growth will be supported by an industrial Board of Directors with ports and container shipping expertise.

The Port of Los Angeles, together with the Port of Long Beach, form the largest gateway in North America for growing transpacific trade flows.

GGS is the third largest terminal in the Ports of Los Angeles and Long Beach in terms of capacity, and operates under a long-term concession that runs through 2043. The terminal provides intermodal container handling services to shipping lines including stevedoring, intermodal/truck services, storage and maintenance, and is on track to handle over one million containers in 2017.

GGS benefits from a berth depth that enables the terminal to accommodate the latest and future generations of large container ships.

The transaction is expected to close in the fourth quarter of 2017.

To contact the author of this article, email david.wagman@ieeeglobalspec.com



LA Port Upgrade Planned by New Owners

Author : Internet   From : globalspec   Release times : 2018.03.18   Views : 1373

The EQT Infrastructure III fund will buy 90% of Global Gateway South, a leading terminal in the Port of Los Angeles, with an enterprise value of $875 million.

EQT Infrastructure has partnered with port operating firm P5 Infrastructure ("P5") to develop a plan aimed at transforming GGS into a world-class operation. Current owner, CMA CGM, will retain a 10% ownership stake in GGS and has entered into a long-term contract as the largest customer of the terminal.

The plan would transform GGS from an asset operated as a cost center into a leading North American terminal in terms of capacity and efficiency. The strategy includes capital investments in cranes, other handling equipment and technology to increase capacity and efficiency. Growth will be supported by an industrial Board of Directors with ports and container shipping expertise.

The Port of Los Angeles, together with the Port of Long Beach, form the largest gateway in North America for growing transpacific trade flows.

GGS is the third largest terminal in the Ports of Los Angeles and Long Beach in terms of capacity, and operates under a long-term concession that runs through 2043. The terminal provides intermodal container handling services to shipping lines including stevedoring, intermodal/truck services, storage and maintenance, and is on track to handle over one million containers in 2017.

GGS benefits from a berth depth that enables the terminal to accommodate the latest and future generations of large container ships.

The transaction is expected to close in the fourth quarter of 2017.

To contact the author of this article, email david.wagman@ieeeglobalspec.com



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