Rise in Full TEU Volume & Sustained Growth
The Port of Oakland reported a notable 17% rise in full TEU container volume for April compared to the same period in 2023. This increase marks a return to the port’s historical average cargo volumes, following declines in 2022 and 2023.
Full imports have risen year-over-year for the sixth consecutive month, from November 2023 to April 2024. Specifically, the port saw a 7.5 per cent increase in loaded imports in April 2024, handling 75,335 TEU compared to 70,112 TEU in April 2023.
Growth in Exports
Full exports also experienced growth, increasing by 6.9% in April 2024. The port managed 67,566 TEU in April 2024, up from 63,193 TEU in April 2023.
Improved schedule reliability for vessels has been a key factor in attracting agricultural shippers who depend on predictable ship departures, said the port.
Key Factors
“It’s encouraging to see Oakland recover cargo volume as we focus on long-term growth,” said Bryan Brandes, Maritime Director at the Port of Oakland.
“Our investments in upgrading port infrastructure are paying off, and they position us ideally to capture future freight business with increasing demand.”According to the most recent port release, the Bay Area consumer market continues to be robust, supporting the Port of Oakland’s maritime business. Additionally, the volume of imported goods is returning to normal as cargo that had been diverted during the pandemic is now making its way back to the Oakland Seaport.
Consumer Market & Zero-Emissions Initiatives
While empty imports saw a slight decline of 0.4 per cent, with 16,357 TEU in April 2024 compared to 16,423 TEU in April 2023, empty exports increased significantly by 18.7 per cent, handling 29,375 TEU in April 2024 versus 24,754 TEU in April 2023.
The U.S. Department of Transportation’s Federal Highway Administration (FHWA) recently granted the Port of Oakland a $4 million grant for its zero-emissions initiatives at the Oakland Seaport.
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Source: Port Technology
