(BRK.A), (BRK.B)
The Port of Stockton has announced that 2018 was a second consecutive record-setting year. The record was good news for freight haulers BNSF Railway and Union Pacific, as well.
The Port of Stockton is an inland facility situated on a deep-water channel located in the extended San Francisco Bay Area. Operating since 1933, the Port of Stockton is the 4th largest port in California and handles dry bulk, breakbulk, liquid bulk, warehousing and project cargoes. Services include stevedoring, warehousing, inventory management and transloading.
The overall cargo volume was up slightly from the previous year reaching 4,739,249 metric tonnes (up 0.5% vs. 4,713,513 in 2017).
“In 2018, we saw our maritime tonnage grow for the third year running. During the same period, our tenant base set a new record for the second year in a row,” said Port Director, Richard Aschieris. “In the current climate of challenging international trade, these accomplishments are precedent setting and once again highlight the unique strengths of the Port of Stockton’s staff and facilities.”
Aschieris continued, “There are many factors contributing to our record growth. One is giving our customers speed to market. We facilitate customers getting their product moving as quickly as possible because we are centrally located, adjacent to less congested highways and uniquely offer a 24/7 gate for round-the-clock access to freight. The Port of Stockton is served by both the UP and BNSF railways and our labor force is experienced and flexible. Another strength is that clients have room to grow: we offer over 7 million square feet of existing warehouse space and another 600 acres for future development.”
“While 2018 was another record-setting year for us, we can’t rest on past successes. We must continue to look to the future as new projects are brought online,” stated Board of Commission Chair, Stephen Griffen. “We will continue to strengthen our infrastructure which will help us meet the needs of continued growth and capacity. We are confident that more companies will follow suit and use the Port of Stockton.”
“Our continued growth adds strength to the Stockton and San Joaquin County economies and helps to create jobs,” said Aschieris. “We believe we will increase employment opportunities in the area. The Port of Stockton supports 10,000 family-wage jobs. We made a strategic move to diversify our cargo base and began making focused investments in our infrastructure over 10 years ago. Combine that with the hard work of our labor forces and the results are new highs for the Port of Stockton.”
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.