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Video: Continued Volatility, Consolidation Says POLB's Hacegaba

Volatility in the shipping line industry will continue, and the expectation is that more consolidation is ahead, said Dr. Noel Hacegaba, the Port of Long Beach's chief commercial officer. In a 2017 interview, he discussed the port's strong start to the year, optimistic vision for the future, carrier alliances, and modernization investments. The 2016 collapse of Hanjin Shipping had a ripple effect on the industry, and a direct and significant effect on the port, he said, where it owned more than 50 percent of their largest terminal and accounted for 13 percent of container throughput. Hacegaba discussed the partnership effort with Total Terminals International that rescued 4,300 of the stranded containers, releasing as well the chassis occupied.