Port of Oakland loaded container volume up third month in a row
Port of Oakland full containers (both imports and exports) in May 2023 were up by about 18% compared to February 2023.
Although Oakland loaded cargo TEUs (twenty-foot containers) have been climbing for three months, the loaded container volume remains below last year, registering a 19% decline in the first five months compared to the same period in 2022.
The spike in goods movement from high consumer spending during the pandemic lingered into 2022 pushing volumes higher in the earlier part of last year.
Related articles: Tentative labor agreement reached between union and employers in U.S. West Coast ports
Total full TEUs declined compared to May of 2022, posting a 22.7% drop, with 134,398 TEUs.
Full imports fell 28.2% with 70,887 TEUs processed by the port, versus 98,792 TEUs in May 2022.
Importers continued to favor East Coast and Gulf Coast ports last month due to the remaining uncertainty around contract negotiations between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA).
“Last week’s positive news on the tentative agreement between the ILWU and PMA will restore shipper’s confidence in West Coast ports as they are the most efficient gateway for goods moving between Asia and the U.S.,” says Port of Oakland Maritime Director Bryan Brandes.