OAKLAND, CA — A major global marine terminal operator has signed a lease running through 2027 at the Port of Oakland, a move port officials characterized as validation for the city's maritime future.

SSA Marine, which operates marine terminals in more than 250 locations worldwide, signed a lease that includes a 19-acre expansion at SSA's container terminal, port officials announced Friday.

The lease also includes the purchase of three new ship-to-shore cranes for cargo handling and options that would extend the lease an additional 15 years if certain conditions were met, according to port officials.