LA terminals offered $7.5 million in incentives

Chamber of Shipping > Blog > News > US > LA terminals offered $7.5 million in incentives
The Port of Los Angeles has announced that next month it will begin rewarding terminals with ‘incentive awards’ totaling $7.5 million. The marine terminals are being encouraged to meet certain metrics for truck turn times and dual transactions as the clogged gateway continues to struggle with record imports from Asia. Beginning Feb. 1, marine terminals that improve truck turn times by 5 to 20 percent can earn between 50 cents and $2.75 per laden or empty TEU. The rate of reward for terminals will be on a sliding scale, increasing as turn times improve. Under a related award program for dual transactions, terminals can earn between 40 cents and $1.40 per laden TEU when at least half of all trucks calling at a facility drop off one container and depart with another on the same trip. The rate of reward increases as the terminal’s percentage of dual transactions grows.

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