CHINA SHIPPING, YANGMING IN L.A. TERMINAL COOPERATION

CHINA SHIPPING, YANGMING IN L.A. TERMINAL COOPERATION    The shipping lines China Shipping and Yangming Marine, together with the U.S. West Coast terminal operator Marine Terminals Corp., will cooperate in the construction and operation of a terminal in the port of Los Angeles.
   The West Basin Container Terminal Cooperative Working Agreement, filed with the U.S. Federal Maritime Commission, allows China Shipping (North America) Holding Co., Ltd., Yang Ming Line Holding Co. and Marine Terminals Corp. to jointly establish and operate a marine terminal facility at the port of Los Angeles.
   In 2001, the city council of Los Angeles approved a lease agreement between the port and China Shipping — the Chinese state-owned carrier’s first exclusive terminal — but the terminal development was subsequently delayed.