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Port Container Terminal Divested for $1.8B
A consortium led by Australia’s Macquarie Group acquired Long Beach Container Terminal from Hong Kong-based Orient Overseas International Ltd. (OOIL) for $1.78 billion.
The terminal was operated under a lease agreement with Long Beach. U.S. regulators required OOIL to divest the asset following its acquisition by China’s Cosco Shipping Holdings Co. Ltd. last year.
The sale must meet the approval of the U.S. Department of Homeland Security and the Department of Justice. A separate, 20-year stevedoring and terminal services agreement at the Long Beach Container Terminal with OOIL must be approved by the port.
The port’s $1.4-billion Middle Harbor project encompasses the terminal, and is envisioned as the largest automated terminal on the West Coast.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


