Port of Oakland

Aerial view of the San Pedro Bay Port Complex in California. (Photograph Courtesy of Port of Los Angeles)

Port of Los Angeles Adopts $2B FY23/24 Budget

The Los Angeles Board of Harbor Commissioners on June 7 approved a $2 billion Fiscal Year (FY) 2023/24 annual budget for the Port of Los Angeles, calling for “increased investment in Port operational and public-access infrastructure, as well as support for a range of industry leading sustainability and decarbonization initiatives.”

The CMA CGM Group has signed a binding agreement to acquire the GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc., at the Port of New York and New Jersey. (Photograph Courtesy of CMA CGM Group via Twitter)

Intermodal Briefs: CMA CGM Group, Port of Oakland

Global shipping and logistics firm CMA CGM Group will acquire the GCT Bayonne and New York terminals at the Port of New York and New Jersey. Also, the Port of Oakland, Calif., reports November container volume declines.