By Karen Robes Meeks
The Port of Oakland expects to see an annual two percent increase in container volumes over the next five years, thanks to nearly $700 million in new money coming from outside investors.
“This is good, measured growth that’s not debilitating for our community or our operations,” Executive Director Chris Lytle said at the port’s 55-member Efficiency Task Force. “A big shout out to those who have stepped up to make the investments that will drive our growth – they’re showing faith in Oakland’s future.”
Investing in port facilities and infrastructure allows Oakland to further compete in the global market, many of which are expected to come online by summer, Lytle said.
They include:
• Completing TraPac marine terminal’s $60 million expansion;
• Finishing a $15 million project to raise four ship-to-shore cranes at Oakland International Container Terminal;
• Breaking ground on a $52 million Seaport Logistics Complex by CenterPoint Properties;
• Opening a $90 million Cool Port Oakland refrigerated distribution facility by Lineage Logistics and Dreisbach Enterprises and
• Kicking off a $40,000 web portal by Advent Intermodal Solutions for shippers to track containers or manage cargo pickup.
Port Maritime Director John Driscoll predicted that new development would raise cargo volumes, adding that Cool Port alone could mean more than 50,000 TEUs annually.
“We applaud the vision of those who are investing in Oakland,” he said. “The payoff will be more business for the port and more jobs and economic stimulus for the city.”
