TraPac Eyes Expansion at Port of Oakland
- Business & Finance
With the aim to nearly double the size of its container terminal at Californian Port of Oakland, terminal and stevedore operator TraPac has reached a 14-year lease agreement to get additional 57 acres and two vessel berths on the port’s Outer Harbor.
TraPac disclosed its plans at a meeting of Oakland’s Board of Port Commissioners on October 13, 2016. The proposed lease agreement with the port becomes final if the Board approves it at a meeting on October 27, 2016.
TraPac handles 20% of the containerized cargo moving through the Port of Oakland. It manages two vessel berths and 66 acres of land.
Under the new agreement, TraPac would have four berths and 123 acres and much of the land would be used for cargo handling, according to the Port of Oakland.
TraPac began Oakland operations in 1991 and, apart from the terminal in Oakland, manages facilities in Los Angeles and Jacksonville, Florida.
According to the port, TraPac will invest to upgrade and modernize the new terminal acreage under its control in Oakland.