Port of Oakland November container volume dips slightly
Retailers likely still working though excess inventory
Oakland, Calif. – December 20, 2023: The Port of Oakland full import and export volumes were down in November compared to the previous month, registering 132,648 TEUs (twenty-foot containers), versus 142,255 TEUs in October, representing a 6.8% drop.
Full imports rose 3.8% over November 2022 volume, with 71,258 TEUs passing through Port facilities this November compared to 68,646 TEUs in November 2022. Conversely, full exports declined 3% in November 2023, with 61,390 TEUs handled by Port operators, versus 63,283 TEUs in November 2022.
Empty imports experienced a drop of 0.6%, with 14,118 TEUs passing through the Port, as opposed to 14,197 TEUs in November 2022. Empty exports experienced a 49% decrease, with 19,613 TEUs moving through the Port this November, in contrast to 38,481 TEUs in November 2022.
“We saw some canceled sailings in November as evidenced by the dip in vessel calls last month,” says Port of Oakland Maritime Director Bryan Brandes. “This caused our volumes to drop.”
Overall import volumes continue to hover around 70,000 TEUs per month after falling from the extreme highs seen during the pandemic. Export volumes have stabilized around 60,000 TEUs per month in 2023, helped by the improvement in on-time performance for container ships.
This year the Port did not see the usual spike in import cargo volumes during late summer and the fall.
“Consumers continue to spend, and our local economy is growing, so the lack of an upswing in cargo volume is likely because retailers are working though excess inventory,” says Brandes. “Meanwhile, we’ve been investing and implementing projects that will improve the efficiency of our maritime operations. This puts us in an excellent position to handle more cargo.”
Link to Port of Oakland container volume data: https://www.oaklandseaport.com/performance/facts-figures/
About the Port of Oakland
The Port of Oakland generates vital economic activity, community benefits and environmental innovation, as the Port decarbonizes its operations for a cleaner and greener future. Along with its partners, the Port supports 98,345 jobs in the region and $174 billion in annual economic activity. The Port oversees Oakland International Airport, the Oakland Seaport and nearly 20 miles of waterfront including Jack London Square, and a publicly owned utility. The Port of Oakland is Everyone’s Port! Connect with the Port of Oakland and Oakland International Airportthrough Facebook and Twitter, or with the Port on LinkedIn, YouTube, and at www.portofoakland.com.