The U.S. Port of Oakland's Outer Harbor Terminal filed for Chapter 11 protection, two weeks after one of its biggest tenants said it was terminating a 50-year lease with the northern California port. In a Chapter 11 petition filed in U.S. Bankruptcy Court in Delaware, Outer Harbor Terminal, which operates part of the Oakland port, listed both assets and liabilities of between $100 million and $500 million. The Port of Oakland, located on the shore of San Francisco Bay, was one of the first ports in the world to specialize in intermodal container operations. It is the third-largest container shipping port in California and handles more than two million TEUs cargo annually.
