Tuesday, December 27, 2016

Oakland Monthly Container Volumes Up Slightly

By Mark Edward Nero

Although an 11.5 percent increase in full container imports was a boon for the Port of Oakland last month, it was offset by a nearly 24 percent drop in empty exports, resulting in just a 2.3 percent rise in overall cargo volumes compared to the same month last year.

Data shows that November’s 11.5 percent containerized export volume increase was the third straight month of double-digit growth and the 10th time exports have risen this year.

The port has said that exports are surging despite a strengthening dollar that makes American products more expensive overseas. Strong Asian demand for California farm products, wine and other beverages is spurring the rally, according to the port.

“If you listen to conventional wisdom, exports should be facing headwinds,” Maritime Director John Driscoll said. “But the clamor overseas for high-quality American commodities hasn’t peaked, so our volumes keep climbing.”

The port said it shipped 85,915 TEUs last month, which is its second-highest total of 2016, after October’s 89,400 units.

Through 11 months of this year Oakland export volume is up 10.3 percent, while containerized imports are up 4.5 percent and total loaded container volume has increased 7.4 percent.

Port data shows that exports have accounted for 52 percent of its loaded cargo volume in 2016, while imports account for the other 48 percent. The port’s complete 2016 TEU volumes data can be seen at http://www.portofoakland.com/port/seaport/facts-and-figures/