TraPac to Double Oakland Capacity
TraPac has agreed to nearly double the size of its terminal at the Port of Oakland, by leasing an additional 57 acres and two further berth on the Port’s Outer Harbor.
Already the second-largest terminal operator at the Port of Oakland, responsible for 20% of all container movements in the port, TraPac will add considerable capacity to the two-berth, 66 acre site it currently occupies.
John Driscoll, Martime Director at the Port of Oakland, said: ““This is a significant step forward for TraPac and the Port... TraPac gets room to expand its thriving business and the Port gets to revitalize valuable property with a highly respected tenant.”
The deal is expected to be finalised at a meeting of the Board on October, 27 2016. The initial agreement will see TraPac lease the additional land for a 14-year period.
The increased footprint for TraPac will allow it to improve the efficiency of its container handling operations and cement its position at the second-largest operator in Oakland.
The news comes as the port announced nearly $500 million of capital improvement projects in and around the Port of Oakland over the next five years.