PORT OF LOS ANGELES PROPOSES INTERMODAL CONTAINER DISCOUNT PROGRAM


PORT OF LOS ANGELES PROPOSES INTERMODAL
CONTAINER DISCOUNT PROGRAM

 

SAN PEDRO, Calif. – February 13, 2009 – Port of Los Angeles officials are proposing an Intermodal Container Discount Program designed to help sustain intermodal cargo volumes in the year ahead as the Port’s largest tenants and their customers navigate tough economic waters.  The proposed program would provide the Port’s seven container terminal operators with a 10 percent discount per Twenty-foot Equivalent Unit (TEU, or 20-foot container) of revenues due to the Port, for every imported or exported container that moves by rail to or from locations outside of California.  The discount would be retroactive to January 1, 2009 and continue through December 31, 2009.

“We wanted to create a program that would help our container terminal operators offset their operating costs and retain their intermodal business for the sake of the jobs and business revenue that cargo brings into our region,” said Port Executive Director Geraldine Knatz, Ph.D. “This is a start in our efforts to explore ways we can help our customers through these tough economic times.”

Intermodal cargo presently accounts for roughly 41 percent of the Port’s total containerized cargo volume.  In 2008, 7,849,985 TEUs (Twenty-foot Equivalent Units) moved through the Port of Los Angeles.

The program will be presented to Los Angeles Harbor Commissioners at the Port’s next regularly scheduled board meeting: 8:30 a.m., Thursday, February 19, 2008, at Banning’s Landing Community Center in Wilmington.

About the Port of Los Angeles
The Port of Los Angeles, also known as “America’s Port,” has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy and the quality of life for the region and the nation it serves. A recipient of numerous environmental awards, including the U.S. Environmental Protection Agency's 2007 Clean Air Excellence Award, the Port of Los Angeles is committed to innovating cleaner, greener ways of doing business. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates 919,000 regional jobs and $39.1 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars. The Port of Los Angeles - A cleaner port. A brighter future.