TraPac 14-year lease would boost Port of Oakland container capacity
Time：2016-10-17
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The proposed 14-year lease agreement with the Port of Oakland becomes final if the Board of Port Commissioners approves it at a meeting on October 27.
"This is a significant step forward for TraPac and the Port," said port maritime director John Driscoll. "TraPac gets room to expand its thriving business and the port gets to revitalise valuable property with a highly respected tenant."
If approved, the deal would greatly strengthen TraPac`s position as the second biggest terminal operator in Oakland.
Wilmington, California-based TraPac disclosed its plans at a meeting of Oakland`s Board of Port Commissioners.
"This is a significant step forward for TraPac and the Port," said Port Maritime Director John Driscoll. "TraPac gets room to expand its thriving business and the Port gets to revitalize valuable property with a highly respected tenant."
TraPac already handles 20 per cent of the containerised cargo moving through the Port of Oakland. It manages two berths and 66 acres of land. Under the new agreement, it would have four berths and 123 acres.
"Our business is growing and placing new demands on our operations," said TraPac Oakland general manager Mike Porte.
TraPac manages terminals in Los Angeles and Jacksonville. In Oakland, the company will invest to upgrade the new terminal acreage that includes a new gate to provide better truck access.