Port of Oakland loaded box volume declines in May as expected
COVID-19 impacts: Full imports and exports down 14.6; 10.7 percent respectively
Oakland, Calif. – June 11, 2020: Port of Oakland loaded container volume decreased 12.7 percent last month from May 2019 totals, according to data released today. The Port had been expecting cargo decline due to continued COVID-19 impacts on global shipping.
The Port pointed to lower consumer demand in domestic and foreign markets, both driven by coronavirus pandemic uncertainty, as the main reason for declining trade volume.
“Since March, the Port has seen indications of more significant cargo declines, so the May results are not unexpected,” said Port of Oakland Acting Maritime Director Delphine Prevost. “Ocean carriers have been reducing the number of vessels in service in anticipation of expected declines in import demand. It’s created challenges for exporters who are seeing less predictable vessel schedules and facing issues with finding capacity for their exports.”
According to the Port, May 2020 loaded import volume dropped 14.6 percent from May 2019. Loaded exports declined 10.7 percent. The return of empty containers to Asia decreased 28 percent. As a result, total cargo volume declined 16.8 percent.
Overall, the January-to-May 2020 cargo statistics show a 7.8 percent decrease compared to the same time period in 2019.
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. Connect with the Port of Oakland and Oakland International Airport through Facebook, or with the Port on Twitter, YouTube, and at www.portofoakland.com.