MOL renews long-term lease for LA Container Terminal

Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) announced that its wholly owned terminal operator TraPac, Inc. (Headquarters: Los Angeles, California, U.S.) renewed its long-term lease contract for a container terminal at the Port of Los Angeles. The signing ceremony for the new contract was held on October 15, with participation by the Interim Deputy Mayor of the City of Los Angeles, Romel Pascual.

MOL Executive Officer Junichiro Ikeda commented, completing the Environmental Impact Report and lease
agreement for our terminal in the Port of Los Angeles after years of hard work and negotiations, as well as celebrating the beginning of the construction of our new terminal improvements, will pave the way for MOL and TraPac, in partnership with the Port of Los Angeles, to become more effective environmental and technological stewards for decades to come.

Under the new pact, the terminal's total space will be extended to 1.3 times the current area. The number of berths will also increase. New on-dock rail facilities will be constructed on the terminal site, as well as multilevel additions to the existing terminal access roads, which will reduce traffic congestion in and around the terminal. The gate facility and terminal office will also be relocated to further enhance the terminal's operating efficiency.

Furthermore, the new contract also includes a provision for shore power to supply vessels berthed at the port, which will significantly reduce emissions of environmental hazardous substances such as NOx, SOx, and PM from the vessels' exhausts, as they will not be required to operate engines for power purposes. The TraPac will proactively introduce new technologies to reduce the environmental burden, ensuring more environment-friendly terminal operation.