• 2020 June 30 13:11

    Port of Oakland Oks FY 2021 budget midst COVID-19 crisis

    Coronavirus-induced business declines have prompted the Port of Oakland to curtail Fiscal Year 2021 spending plans. Port Commissioners last week approved a budget for next year down 15.84 percent from FY 2020 levels, the company said in its release.

    The Port budget projects $432.5 million in operating and capital expenditures and debt service payments next year. That’s reduced from last year’s $513.6 million budget. According to the Port, lower spending reflects anticipated declines in its Aviation and Maritime businesses.

    The Port said its new budget would achieve key financial objectives that include:
    • Protecting cash reserves
    • Ensuring adequate revenue to pay down debt; and
    • Maintaining full operations at its Airport, Seaport and Commercial Real Estate
    holdings

    “This budget is based on neither unsubstantiated hope nor on speculation of any worst-case scenario,” said Port of Oakland Executive Director Danny Wan. “It is based on best estimates of how our business may recover, assuming that our communities and country make slow but steady progress in containing the COVID-19 virus.”

    The economic impact of COVID-19 is likely to continue depressing revenue in FY 2021, the Port said. Oakland International Airport passenger volume plummeted 80-to-96 percent this spring, the Port said. It warned that recovery in the aviation sector could take 2-to-3 years. Maritime business could recover faster, the Port said, but Oakland’s total cargo volume is off 7.8 percent so far, this calendar year.

    The Port said its FY 2021 budget includes $19.1 million of federal coronavirus relief funding. An additional $25.5 million will be used in 2022 and 2023, the Port added.

    The Port’s FY 2021 budget takes effect July 1, 2020.

    About the Port of Oakland

    The Port of Oakland oversees the Oakland Seaport, Oakland International Airport, and nearly 20 miles of waterfront including Jack London Square. The Port's 5-year strategic plan - Growth with Care - pairs business expansion with community benefits, envisioning more jobs and economic stimulus as the Port grows. Together with its business partners, the Port supports more than 84,000 jobs.




2020 July 12

15:38 UMS Skeldar gets contract to supply mine countermeasures drones system
15:23 Samson introduces the latest in mooring line innovation
14:19 Coast Guard halts 2 illegal charters near Star Island
13:41 Carnival Corporation's AIDA Cruises to restart sailing vacations in August
13:18 New OCIMF Committee structure
12:51 American P&I Club and ABS Consulting join forces to drive cyber awareness for maritime insurance
11:49 Royal Caribbean Group acquires remaining interest in Silversea

2020 July 11

15:28 Cox Powertrain celebrates as first 300hp diesel outboards roll off the production line ready for delivery
14:51 WCI names Tracy R. Zea as President & CEO
13:45 NOS expands its fleet with two additional M-Class vessels
11:37 Huisman to deliver 250mt Knuckle Boom Crane and 500mt Towing Winch for Nanhai Rescue Bureau
10:52 Wabtec wins federal order for advanced marine engines on new multi-use ships

2020 July 10

19:08 CMA CGM announces FAK rates from Asia to the Mediterranean
18:30 CMA CGM announces FAK rates from Asia to North Europe
18:04 HHLA implements machine learning for the first time to increase productivity
18:01 Port of HaminaKotka throughput in 6M’2020 fell by 14.2% YoY
17:38 Information on the seaport of Murmansk changed in the Register of Russian Seaports
17:13 Thun Tankers takes delivery of the fifth L-class at China Merchants Jinling Shipyard
16:52 Russian Railways: Loading of export cargo bound for domestic ports up 3.3%
16:33 Valenciaport reaffirms its leadership as the first Spanish port at UNCTAD index
16:03 Port of Marseille to maintain €57 million in investments to stimulate the recovery
15:43 DNV GL launch support for new Dynamic Positioning system failure guideline enabling quicker and cost effective implementation
15:30 Volga Shipping Company delivered project cargo to the Caspian Sea
15:13 COVID-19 causes problems for implementing EU legislation - BIMCO
14:48 Throughput of Russian seaports in HI’2020 grew by 0.1% Y-o-Y
14:23 Wärtsilä simulator complex delivered to enhance operations at the Training and Education Office of the Indonesian National Police
14:03 Port of Oakland imports up 1.9 percent in June 2020
13:44 Onezhsky Shipyard delivers hybrid workboats Anatoly Klimov and Victor Vorotylo (video)
13:22 Governments of 12 countries pledge action for seafarers at crucial crew change summit
13:19 GTT receives an order from Hudong-Zhonghua Shipbuilding for the tank design of three new LNG carriers
13:01 Sredne-Nevsky Shipyard commenced making hull of yet another minesweeper of Project 12700, Aleksandrit
12:38 Throughput of Murmansk Sea Fishing Port fell by 12.7% in HI’2020
12:13 Nuclear-powered icebreakers of Rosatomflot assisted 462 ship calls in winter-spring navigation season
11:35 Construction commences on Austal's largest ever ferry
11:04 GIWACAF launches webinar series on oil spill preparedness and response
10:46 FSUE “Rosmorport” takes award-winning place in the annual sailing regatta
10:32 LR to develop structural digital twin for Bluewater FPSO Glas Dowr
10:22 Rosmorport changes tariffs on berth assignment services in Astrakhan and Olya seaports
09:59 Bunker prices are slightly up at the Port of Saint-Petersburg, Russia (graph)
09:37 Oil prices decrease amid concern over demand recovery rates
09:20 Baltic Dry Index as of July 9
09:11 MABUX: Bunker market this morning, July 10

2020 July 9

19:03 OOCL receives Gold Award from the HKAEE for the fourth time
18:10 Aquila Power Catamarans announce a luxuriously versatile new model
17:55 Tallink Grupp’s vessel Sailor to operate on Paldiski-Kapellskär Route from Sunday
17:31 Bunker prices are flat at the Far East ports of Russia (graph)
17:28 Port of Rotterdam to start trial with PIN-free container handling
17:18 Damen holds keel-laying for Port of Auckland’s fully electric RSD-E Tug 2513
17:12 Diana Shipping announces time charter contract for m/v Selina with ST Shipping
16:44 "K" Line participates in JV for FPSO owning and chartering business offshore Brazil
16:23 Jan De Nul Group has started offshore installation activities in Taiwan
16:06 Port of Liepaja throughput in 6M’2020 fell by 15.6% Y-o-Y
15:48 Russia remains in Paris MOU’s White List
15:24 PD Ports submit response to national Freeport consultation
15:03 Khabarovsk Territory Governor Sergey Furgal detained by officials of Russia’s Investigative Committee
14:39 Aibel awarded Oseberg portfolio agreement
13:47 Ukraine is still on Paris MOU’s Black List
13:22 MOL announces joint development of energy-saving rudder
12:50 Container shipments on Russian Railways’ network up 15% in 1H 2020
12:17 Cargo transhipment in North Sea Port falls by more than 11% in first half of year