Photo courtesy of MSC

One of the world’s largest ocean cargo lines is increasing its investment in the Port of Long Beach, the second such move from a major carrier in as many months, Port Executive Director Chris Lytle announced Thursday. Mediterranean Shipping Company, the world’s second-largest ocean cargo line, purchased a stake in the leasehold for the marine terminal operations at Pier T, the largest container terminal in Long Beach.

The Swiss-based MSC has been coming to Long Beach since 2002 and already holds a financial interest in the terminal operations at Pier A. The new investment secures Long Beach as the carrier’s West Coast hub and is positive news for the expanding Port as competition continues to grow from other ports in Canada and Central America.

“At the Port of Long Beach, we remain committed to our mission of ensuring that the hundreds of thousands of jobs that depend upon our success stay here, and grow for future generations,” Lytle said at his annual State of the Port address Thursday. “This is your port, your economic engine, your asset. With your support, we plan to continue our tradition of growth and success.”

MSC’s purchase comes just over a month after French shipping line CMA CGM–the world’s third-largest–purchased similar stake in Pier J, marking that company’s first investment on the West Coast. MSC and CMA CGM operate some of the biggest containerized cargo ships in the trans-Pacific trade including several megaship vessels capable of carrying more than 12,000 containers.

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