Port of Oakland hauls in record revenue
Record-high revenues were reported at the Port of Oakland over the past year, according to a report released Friday.
The port collected an all-time high of $366.6 million in the fiscal year ending on June 30, according to officials.
Port of Oakland spokesman Mike Zampa said:
“There’s been more attention paid to Oakland. … We’re seeing a renaissance of Oakland as a whole and we’re definitely feeling that, especially at Jack London Square.”
The Port of Oakland’s three business lines include maritime, aviation, and commercial real estate, all of which experienced revenue increases.
“We’re seeing strong performance on all business lines.”
Port officials attribute most of the port’s increase in aviation revenue of 3.1 percent to the exceptional 8.7 percent rise in Oakland International Airport ridership from the previous fiscal year.
Maritime revenue saw a 3.9 percent increase despite a labor contract dispute between the Pacific Maritime Association and the International Longshore and Warehouse Union that backed up ships at West Coast ports last winter.
“It became contentious and interrupted the flow of cargo to customers.”
The port’s commercial real estate revenue increased 20 percent, much of which Zampa attributes to Oakland and especially Jack London Square becoming more of a destination.
The port has plans for the current fiscal year to complete the construction of a rail yard at the former Oakland army base and temperature-controlled facilities that will aid in the shipment of chilled products, Zampa said:
“We are focusing on improving efficiency and development capability. … The goal is to be the preferred gateway to the U.S. and Asia, and so far we’re doing that.”