The Port of Oakland saw its cargo volumes rise 5.9% in October compared to the same time a year ago, handling 145,868 loaded TEUs, according to new data released by the port Nov. 17.
The Northern California seaport also reported a 4.8% uptick in loaded exports with 66,408 TEUs and 6.7% jump in full imports with 79,459 TEUs last month compared to October 2021.
Even with last month’s cargo gains, it’s “insufficient to reverse the declines from earlier this year,” with long-term indicators forecasting overall declining import cargo numbers, the port declared in a statement.
Declining freight rates and high inventory levels reported by U.S. retailers also contribute to lowered import demand, the port added.
“Although we anticipate that overall cargo will decline on the West Coast in the coming months, the recent uptick in volume at Oakland is welcome news, especially on the export side,” Port Maritime Director Bryan Brandes stated.
More information on the data is available at https://www.oaklandseaport.com/performance/facts-figures/.