The use of energy storage with high power density and fast response time at container terminals (CTs) with a power demand of tens of megawatts is one of the most critical factors for peak reduction and economic benefits. Peak shaving can balance the load demand and facilitate the participation of small power units in generation based on renewable energies. Therefore, in this paper, the economic efficiency of peak demand reduction in ship to shore (STS) cranes based on the ultracapacitor (UC) energy storage sizing has been investigated. The results show the UC energy storage significantly reduce the peak demand, increasing the load factor, load leveling, and most importantly, an outstanding reduction in power and energy cost. In fact, the suggested approach is the start point to improve reliability and reduce peak demand energy consumption.