Port of Oakland adopts FY 2019 budget

The $494.2 million budget includes $34.7 million for capital projects.    The Port of Oakland adopted a $494.2 million budget for fiscal year 2019, which began Sunday.
   The budget finances operations at the port’s three businesses, which include aviation, commercial real estate and maritime.
   The spending plan includes $34.7 million for capital projects. However, the port said it would seek commissioners’ approval for up to $92 million in additional capital funding for the fiscal year.
   Mike Zampa, communications director at the Port of Oakland, told American Shipper that top seaport projects in the fiscal year 2019 budget include:
     • The completion of a rail link to the new Cool Port Oakland refrigerated distribution center that opens in August;
     • The completion of raising four ship-to-shore cranes at Oakland International Container Terminal by the end of summer;
     • And improvements at berths 25 and 26 at the TraPac terminal, which currently has no timetable.
   The port said its overall budget for fiscal year 2018 was $40 million higher due to airport upgrades, which included a major overhaul of the airport’s international arrivals buildings, as well as rehabilitation of its main runway.