The decision Monday by Outer Harbor Terminal in Oakland to file for Chapter 11 bankruptcy protection will not deter Ports America from continuing to invest in its other container terminals on both the West and East coasts, the company said Wednesday.
Outer Harbor Terminal, a joint venture between Ports America and Terminal Investment Ltd., a subsidiary of Mediterranean Shipping Co., was in discussions with the Port of Oakland to end its 50-year lease
for the 166-acre terminal when Outer Harbor abruptly announced on Monday it had filed for Chapter 11 protection.Questions immediately arose about the ability of Ports America to maintain and expand its operations at its other container operations in ports such as Long Beach, Los Angeles, Tacoma, New York-New Jersey
and Baltimore, but the company said through a spokesperson that the decision involving Oakland will have “absolutely no impact on Ports America in any way.”
