Another blow for Port of Oakland as Outer Harbor Terminal files for bankruptcy
The Port of Oakland expressed disappointment at Monday’s decision of Outer Harbor Terminal to file for Chapter 11 bankruptcy.
The filing decision comes two weeks after major tenant Ports America announced it would be withdrawing from Oakland on March 31 to focus its investments on other west coast ports.
Outer Harbor Terminal filed its Chapter 11 petition at US Bankruptcy Court in Delaware, across the country.
In a press release the Port of Oakland said it had been “negotiating with [Ports America] in good faith for a smooth, orderly transition that protects the interests of shipping lines, cargo owners and others who depend on the terminal. It’s a shame they’ve taken this step.”
Ports America, one of the leading marine cargo operators in the US, was a joint venture partner with Terminal Investments in running the Outer Harbor Terminal, which is one of five terminals at the port of Oakland.
The Port of Oakland, the third busiest container port in California, is in the process of redirecting to its other terminals ships and cargo that would have used Outer Harbor.
