Port of Oakland seeks greater capacity
Port of Oakland seeks greater capacity
Even though the recession has greatly impacted the Port of Oakland, the 12- year project to deepen Oakland's harbor to be able to compete with other top trade cities has been completed. A $432 million project, funded in the amount of $188 million from the port and $244 million in federal dollars, allows accommodating modern and large cargo ships at lower tides even when the vessels are fully loaded with goods. Previously, ships might have been forced to unload some cargo at other ports before entering Oakland.
As Jean Banker, the port's maritime division finance manager, said "This keeps us in play with the big boys. We will always be a major port because we've got that kind of depth; Oakland will retain global gateway status."
The port of Oakland is the fifth busiest in the US after Los Angeles, Long Beach, New York, and Savannah. Although the shipping business has slowed down for the last two years, recently there are signs of improving it. Year-over-year in June import declined 21 percent but in August the decline slowed to 11 percent according to port data. Exports though increased almost 13 percent in August compared to the same month of 2008.
SF Gate-9/25/2009