Port of Los Angeles locks in ONE terminal for 30 more years

Yusen Terminals will continue operating its marine terminal at the Port of Los Angeles through 2056 under a 30-year lease approved this week by the Los Angeles Board of Harbor Commissioners. The agreement also calls for Yusen, a unit of Singapore-based Ocean Network Express (ONE), to invest an additional $200 million in zero-emission cargo-handling equipment over the coming years, extending the terminal operator’s longstanding presence at the port and supporting its transition to cleaner operations. ONE comprises Nippon Yusen Kaisha (NYK Line) ( 9101. TW ); Mitsui O. S.