Port of Oakland debt upgraded by Fitch Ratings
Oakland, CA. – (Oct. 17, 2016): Port of Oakland intermediate lien revenue bonds have been upgraded by Fitch Ratings to A from A-. Fitch has also affirmed the A+ rating on the Port’s senior lien revenue bonds. The rating outlook for both liens is stable. Fitch issued its rating update October 14. It said the […]
TraPac to nearly double size of its terminal at Port of Oakland
Oakland, CA – (Oct. 14, 2016): TraPac, LLC has reached agreement to nearly double its marine terminal size at the Port of Oakland. Wilmington, CA-based TraPac said today it plans to lease an additional 57 acres and two vessel berths on the Port’s Outer Harbor. If the deal is approved, it would greatly strengthen TraPac’s […]
Port of Oakland exports soar again – up 10 percent in September
Oakland, CA – (Oct. 11, 2016): A year-long export rally is barreling ahead at the Port of Oakland. The Port said today that September containerized export volume soared 10 percent compared to 2015. It was the eighth increase in nine months and the first double-digit jump since February. The trend is significant because Oakland is […]
Port of Oakland Executive Director addresses supply chain advantages
Oakland, CA – (September 30, 2016): Location, location, location. That may be the Port of Oakland’s biggest advantage, says Executive Director Chris Lytle. And it’s key to the Port’s future, he told more than 140 customers here this month. Speaking to the Council of Supply Chain Management Professionals, Mr. Lytle said geography will be a differentiator […]
Port of Oakland: So far, wider Panama Canal not a factor
Oakland, CA – (Sept. 27, 2016): Bigger ships may be using the newly widened Panama Canal, but they’re not bypassing Oakland to get there. The Port of Oakland said today that wider canal locks have not dented its business. According to Port data, Oakland vessel traffic has gone up since the Canal got bigger June […]
Port of Oakland eases worry over bankrupt shipping line boxes
Oakland, CA – (Sept. 21, 2016): A potential supply chain meltdown resulting from Hanjin Shipping’s bankruptcy has been averted at the Port of Oakland. The Port said today it will receive empty containers owned by the ocean carrier, which filed for bankruptcy protection Aug. 31. The announcement means cargo owners and truckers won’t have […]
Port of Oakland rally rolls on: August exports up 7 percent
Oakland, CA – (Sept. 21, 2016): A year-long rally in containerized export volume is gathering momentum at the Port of Oakland. The Port said today its export volume last month jumped 7 percent over August 2015 totals. It was the biggest year-over-year increase since a 7.1 percent rise in April. The Port said it has […]
Port of Oakland’s largest terminal says night gates here to stay
Oakland, CA – (Sept. 20, 2016): Night gates are here to stay at the Port of Oakland’s busiest marine terminal. The Port said today that Oakland International Container Terminal will make evening operations permanent following a successful three-month trial. The decision makes Oakland one of the few U.S. ports open late for container pick-up or […]
Port of Oakland gets Hanjin ship today, a second due Friday
Oakland, CA – (Sept. 14, 2016): Hanjin Shipping vessels return here this week for the first time since the container carrier filed for bankruptcy Aug. 31. The Port of Oakland said the Hanjin Greece is expected to berth late this afternoon. It will be followed Friday by the Hanjin Boston. The container ships are among the […]
Port of Oakland added to Vietnam-China-U.S. shipping route
Oakland, CA – (Sept. 13, 2016): A Transpacific shipping route linking Asia and the U.S. will add weekly Port of Oakland stops beginning in November. The Port said today Oakland will become the sixth stop in the service operated by three Asian shipping lines. The service, known as the Calco-C, connects ports in Vietnam, China and California. […]