SSA, the American terminal operator, has signed up for a new lease at the Port of Oakland in California, which will run through to 2027. The agreement includes options that could keep SSA at the port to 2042.
“SSA is an influential player on the waterfront worldwide, and a significant presence in Oakland,” said port maritime director John Driscoll. “This lease commitment demonstrates its belief in the port’s long-term prospects.”
Key elements of the SSA deal include: a 19-acre expansion at SSA’s Oakland International Container Terminal (OICT); purchase of three new ship-to-shore cranes by the terminal operator for cargo handling; and options that would extend the new lease an additional 15 years if certain conditions were met.
SSA is the largest marine terminal operator in Oakland. OICT handles about 60% of the port’s total containerized cargo volume. SSA also operates Oakland’s Matson Terminal, which is included in the new lease.
“We see steady cargo growth for Oakland into the next decade,” said Ed DeNike, president of SSA Containers. “This new lease helps us plan for the future.”