Port of Oakland sees five-years of record volume starting in ’18
Oakland, Calif. – Aug. 8 2017: Port of Oakland maritime officials anticipate a five-year run of record cargo volume beginning next year. By 2022, the Port expects to handle the equivalent of 2.6 million 20-foot containers annually. It would be 8 percent more volume than the Port has ever processed in a single year. The […]
Port of Oakland sells bonds to refinance $324 million in debt
Oakland, Calif. – Aug. 7, 2017: The Port of Oakland said today it has completed the sale of bonds to lower debt costs. The Port said its $324 million refinancing will save $44 million in debt service payments over 13 years. Proceeds from the sale will be used to refund 2007 bonds issued to finance […]
Port of Oakland should gain as China opens rice market to U.S.
Oakland, Calif. – Aug. 3, 2017: A new U.S.-China trade pact should increase rice exports here, the Port of Oakland said today. The deal opening China’s market to American growers will likely strengthen Oakland’s link in the global food chain. American rice exports could enter China as soon as 2018 following approval of a trade […]
Port of Oakland-based firm first to test battery-powered big rig
Oakland, Calif. – Aug. 2, 2017: A major Port of Oakland-based trucking operator plans to test battery-powered big rig technology here in September. GSC Logistics said today it will launch a three-year trial with a heavy-duty, all-electric truck. The test is part of a statewide effort to determine the feasibility of zero-emission freight hauling. GSC, […]
Port of Oakland applauds likely OK of longshore pact extension
Oakland, Calif. – July 28, 2017: Port of Oakland officials today applauded word that West Coast longshore workers will likely approve a three-year contract extension. The International Longshore and Warehouse Union said that early coastwide election results indicate support for extending an existing pact with waterfront employers through July 1, 2022. Ratification of the vote […]
Port of Oakland peak season outlook: Cargo record? Bring it on
Oakland, Calif. – July 24, 2017: Possible record peak-season import volume should flow smoothly through the Port of Oakland, Maritime Director John Driscoll said today. In his forecast before an expected holiday cargo rush, the Port executive said Oakland is braced for more business. “We’re hearing that the next two-to-three months could set new containerized […]
Port of Oakland Board elects Joan Story as President
Oakland, Calif. – July 14, 2017: Joan Story has been elected President of the Board of Port Commissioners at the Port of Oakland. The Port’s seven-member governing body unanimously selected Ms. Story at a meeting last night. A two-year veteran of the Board, she’ll serve for the next year as President. “I’m gratified to have the […]
Port of Oakland sets all-time record for June import volume
Oakland, Calif. – July 10, 2017: Last month was a record-setter at the Port of Oakland. The Port said today that it handled the equivalent of 80,253 full 20-foot import containers in June. That broke the previous all-time record for the month of 78,326 containers set in June 2006. The Port said last month’s import volume […]
Port of Oakland: investors show faith in future of global gateway
Oakland, Calif. – June 26, 2017: A senior Port of Oakland executive says investors are making long-term commitments to his international shipping hub. Maritime Director John Driscoll said last week that the trend bodes well for Oakland’s future in global trade. “A lot of people believe in the Port,” Mr. Driscoll told a 40-member Efficiency Task […]
Moody’s upgrades Port of Oakland bond ratings
Oakland, Calif. – June 14, 2017: Moody’s Investors Service has upgraded Port of Oakland bond ratings and assigned ratings on an upcoming series of refunding revenue bonds. The upgrades, announced June 9, include: $656 million of senior lien bonds to A1 from A2; $324 million of intermediate lien bonds to A2 from A3; and a […]