We are thrilled to announce that the Los Angeles Board of Harbor Commissioners has approved a historic 30-year lease extension for Yusen Terminals Inc. (YTI). This milestone agreement secures our trusted presence at the Port of Los Angeles through at least 2056, reinforcing our commitment to our workforce, our customers, and the local community.
The announcement was recently highlighted by Port of Los Angeles Executive Director Gene Seroka during a Cargo News Briefing, where he underscored the significance of YTI’s long-term strength and dedication to the harbor.
A Partnership Built on Trust and Innovation
Our partnership with the Port of Los Angeles dates back to 1991, and later this year, we will proudly celebrate our 35th anniversary at the port. As Seroka noted in his briefing, this 30-year extension provides the certainty needed to keep our terminal, workforce, and technology highly competitive in a rapidly changing maritime industry.
Leading the Charge in Clean Air Efforts
A steadfast partner in the Port’s clean air initiatives, YTI has consistently answered the call to test and integrate new emission-reducing technologies. We already have zero-emission equipment hard at work on our terminal. Under this new lease agreement, Yusen Terminals is taking that commitment even further by pledging an additional $200 million investment toward zero-emission cargo-handling equipment in the years ahead.
As Seroka emphasized, this major environmental investment proves that operational efficiency, environmental progress, and the creation of good-paying jobs can all move forward hand-in-hand.
Community, Labor, and Leadership
A significant portion of the credit for this milestone goes to YTI President and CEO Alan McCorkle and the dedicated team he has built. Throughout the Harbor Commission meeting, the message of support rang loud and clear from labor groups, business leaders, and community organizations across San Pedro, Wilmington, and the broader harbor enclave.
These groups spoke not only about what YTI accomplishes on the terminal but also about how our company shows up in the community. From supporting local youth programs to championing workforce development, we believe that being a terminal operator means being a genuine partner to the surrounding neighborhoods.
Looking Ahead to 2056
Ultimately, this lease extension is about providing certainty for the supply chain while investing heavily in our workforce and clean air goals. More than anything, it is a shining example of what happens when the Port, its tenants, local labor, and the community work together.
We look forward to the next three decades of building a stronger Port of Los Angeles, advancing sustainable operations, and continuing to deliver world-class service to our customers.
Footnotes: https://portoflosangeles.org/references/2026-news-releases/news_082726_yusen_lease