From April 2000 issue of Marine Digest
Long Beach, Hanjin continue "bigger-is-better" trend
By George Cunningham
The recent announcement that the Hanjin Shipping Co. had agreed to lease a 375-acre terminal to be built on the site of the former Long Beach Naval Base is just one more example of the bigger-is-better trend sweeping the port industry.
The agreement comes less than three years after the company moved from its original 57-acre terminal on Pier C to a brand new 170-acre terminal on Pier A. That terminal proved to be too small almost from the beginning. In fact, the fast-growing company ended up never using the on-dock railyard because it needed the space for containers.
Now Hanjin is trading up again. The new terminal on Pier T will be built in two phases. The first 260-acre phase is expected tofor business in spring 2002. The entire terminal, when completed some time after that, will feature a 5,000-foot wharf, 12 to 14 post-Panamax container cranes, an on-dock railyard, and 50-foot water depths.
Under the agreement, Hanjin and the port will sign a 25-year lease on the property. The details of that lease, which is expected to generate $42 million in port revenue per year, still have to be negotiated. The design of the gates, the terminal buildings and the railyard will be finalized after the lease is signed.
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