Tuesday, March 23, 2010

Oakland Port Sees Solid Cargo Numbers In February

The Port of Oakland posted solid across-the-board cargo traffic numbers in February, marking dramatic double-digit increases for total and loaded containers compared to the same period last year. It was also a dramatic increase over January's total cargo container traffic, which was a dismal 0.6 percent below January 2009.

Oakland officials reported total cargo container traffic up to 155,573 TEUs in February, a 17.2 percent increase over February 2009. 

Total loaded inbound containers for the month were up an impressive 30.6 percent to 53,934 TEUs. 

Oakland also scored solid export numbers in February, with total loaded outbound containers ending the month at 71,819 TEUs, up 11 percent over the year-ago period.

Analysts remain split on the reason for the increasing cargo numbers, with some attributing them to a full in-progress economic recovery while others attribute the increases to part of false recovery that is leading to a second downturn in the near future.