The Port of Oakland announced Friday that the Oakland Board of Port Commissioners unanimously approved a litigation settlement agreement with SSA Terminals, LLC and SSA Terminals (Oakland), LLC (collectively, SSAT), one of the Ports major long-term seaport tenants. The settlement involves four of the port's seven marine terminals, and will create operationally the third largest terminal on the US West Coast. In terms of size and operational efficiencies, this new "mega-terminal" will be more in line with competing terminals, allowing the port to sustain and attract more maritime cargo, which currently supports approximately 40 percent of the 73,000 jobs the port generates annually in the region.
The four terminals involved in the agreement are located along the Inner and Middle Harbors: Howard Terminal, Global Gateway Central terminal, Oakland International Container Terminal and Total Terminals International terminal.
Prior to this agreement, the port was facing the expiration of all four terminal leases along its middle and inner harbors in 2016-2017. Further, those leases all had very short renewal notification periods, leaving the port vulnerable in the event one of the operators decided not to renew its lease.
