The Port of Oakland plans to close its second-largest terminal after losing a major tenant.
Ports America announced this week that it would end a 50-year lease at the port and shut down operations within 30 days. The company is leaving six years into its lease, with a port spokesman citing "business reasons" for the departure.
The port will send cargo to its other four terminals once activity is halted at the Outer Harbor Terminal, according to the San Francisco Business Times. Executive Director Chris Lytle says the port will maintain cargo volumes and improve performance despite the closure. The Port of Oakland ranks fifth among the top 15 North American ports.
Ports America plans to expand its presence in its existing locations in Southern California and Washington. [SFBT]
