Port of Long Beach — Financial Profile

Port of Long Beach — Finance Overview

Summary of Port of Long Beach financial position, credit metrics, and operational performance. For financial analysis, see our detailed Port of Long Beach profile.

Executive Summary

POLB ranks as the second-busiest U.S. container port by TEU volume (9.38 million TEUs peak in 2021 per AAPA), behind Port of Los Angeles. Combined San Pedro Bay ports (POLA+POLB) form the largest U.S. port complex. As of 2021, POLB's peak annual volume was approximately 9.38 million TEUs. Subsequent years (2022: ~9.13M, 2023: ~8.1M) did not surpass this record. The Port operates as a revenue-bond-financed enterprise using a gross revenue pledge structure (stronger than net revenue pledge).

Credit Ratings (All Stable Outlook): S&P AA | Moody's Aa2 | Fitch AA- — ratings in the AA/Aa2 category, which is the highest rating category assigned to large U.S. seaports as of 2024. Port of Los Angeles has the same Fitch rating (AA-) as POLB.

Key Financial Metrics:

• Debt Service Coverage Ratio (Target): 2.0x minimum; Actual: approximately 3.0x average from FY2017–2023
• POLB-specific outstanding debt is approximately $1.2 billion as of FY2024.
• "Liquidity policy targets 180 days cash on hand as of FY2024 Liquidity Policy (POLB CAFR)."
• Gross Revenue Pledge: All available operating revenues (before O&M expense deduction)
• 2026-2035 Capital Improvement Plan: $3.2 billion — largest capital program relative to TEU volume among major U.S. container ports based on disclosed CIPs as of 2024 (DWU compilation of published port CIPs)

Major Capital Initiative: Pier B On-Dock Rail Support Facility ($1.8 billion, planned groundbreaking; completion ~2031) will increase rail capacity from 1.5M to 3.5M TEUs annually—a 133% increase. (The total port rail capacity post-project is projected at 4.7M TEUs.)

Key credit supports include: Second-busiest U.S. container port by TEU volume (9.38 million TEUs peak in 2021 per AAPA); gross revenue pledge structure; approximately 85% of FY2024 operating revenues from long-term terminal leases (POLB FY2024 CAFR) provides a high level of predictability to operating revenues (per rating agency reports, 2024); S&P AA / Moody's Aa2 / Fitch AA- ratings (all stable outlook as of Feb 2025). Risks: $3.2B CIP assumes 2-3% annual TEU growth per POLB FY2024 10-Year Forecast; Pier B project execution carries typical large-scale infrastructure risks; tariff-driven volume volatility; POLB may require additional debt issuance for its CIP, per 2024 official statements.

Detailed Analysis Available

This summary article covers the financial metrics for the Port of Long Beach. For in-depth analysis including:

• Detailed entity overview, governance, and fiscal structure
• operational performance, cargo mix, and throughput analysis
• Complete bond structure, gross revenue pledge mechanics, TIFIA financing, and debt profile
• Pier B Rail project details, funding strategy, and execution timeline
• 2026-2035 capital program breakdown and competitive positioning
• Full credit analysis with lease revenue stability, use metrics, and covenant analysis
• Tariff policy exposure and volume volatility risk factors

Please refer to our detailed Port of Long Beach Financial Profile.

Related DWU AI Articles

• Port of Long Beach (POLB) — Detailed Financial Profile — financial analysis with bond structure, Pier B Rail project, and capital program details
• Port of Los Angeles (POLA) — Financial Profile
• Port Revenue Bonds and Finance
• Container Port Economics
• Tariff Policy and Trade Wars — Port Revenue Impact

This analysis was prepared with AI-assisted research by DWU Consulting. It is provided for informational purposes only and does not constitute legal, financial, or investment advice. All data should be independently verified before use in any official capacity.

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