Cargo surge at Oakland port fails to abate future concerns

Port of Oakland

Port of Oakland import cargo volumes have increased in May despite global supply chain woes, but the outlook for the rest of the year remains uncertain amidst concerns over inflation.

Full imports in May 2022 were up 6.7 per cent compared to the same month a year ago. However, overall cargo volume (full imports, full exports, plus empties) for the month was down just under 1 per cent compared to May 2021.

A year-on-year increase of 0.5 per cent was registered for exports.

The port received the equivalent of 98,789 TEU in May despite instances of slow cargo arrivals sparked by lockdowns and congestion at upstream ports, as well as ships arriving off-schedule due to delays in the supply chain elsewhere.

“We are very appreciative of our customers who continue to ship via Oakland even during the difficult times,” said Port of Oakland Maritime Director Bryan Brandes.

“The boost of import cargo volume in May is an encouraging sign for our seaport.”

Oakland port has also reported the restoration of some vessel services in May that were previously suspended. The port said it had 71 ship calls last month, compared to 69 in April.

The port remained cautious on the outlook for the rest of the year.

Import demand is still in question due to building inventories in the US and concerns over inflation.

Just recently, the Port of Oakland’s cargo volume figures for the year showed a negative trend with the port citing China’s COVID-19 crackdown and its ripple effect on ocean carrier scheduling as a principal reason behind the fall.

Volume through April dropped 7 per cent from the same period a year ago.

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