Oakland sees unexpected import jump as retailers anticipate freight rate hike

Twitter
Facebook
LinkedIn
Email
Aerial view of containers and container ships in the Oakland port. Ships docked in the Oakland Estuary on a sunny day. Contaners as far as the eye can see.

The Port of Oakland has reported a 1.9% year-on-year (YoY) increase in imports despite the COVID-19 pandemic leading to 10% increase in blank sailings.

In a statement, the port said the increase was “unexpected” but attributed it to retailers accelerating shipments to the US in anticipation of a drop in cargo capacity and increase in freight rates.

Oakland’s overall container volume – which includes imports, exports and empty containers – declined 2.3% in YoY June from 2019 totals. The port handled the equivalent of 199,011 TEU in June 2020 compared to 203,730 a year ago.

The port said the cargo decrease resulted from a coronavirus pandemic that “continues to dampen global trade”. 

According to the port, June export volume declined 5.7%, a trend which is likely to continue as consumer demand in foreign markets falls even further.

As one of the main gateways for US-China trade, Oakland has suffered tremendously since the beginning of the COVID-19 pandemic, as has its fellow West Coast ports Los Angeles and Long Beach.

In May 2019 it saw its TEU traffic fall by 12.7% and subsequently has had to cut its 2020/2021 to cope with the fallout from the pandemic.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.
FREE

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.