The US Port of Oakland could lose a quarter of its annual revenue, reported Lloyds List, as a result of the imminent departure of New Jersey-based Ports America - the largest independent marine terminals company in the US.
But J. Christopher Lytle, executive director of the port, quickly rejected this report.
He told the San Jose Mercury News that the port was in advanced negotiations with container cargo operator TraPac for a terminal, and had found new berths to handle nearly all the cargo that would be displaced by the departure of Ports America – operator of one of its five terminals.
“We don’t expect to lose any cargo,” Lytle said. “We don't expect any ships to be diverted.”
