Oakland Smashes TEU Record
The Port of Oakland enjoyed its busiest September on record after its TEU volume spiked by 5% compared to the same time in 2017.
It is the second month in a row that the port has seen its TEU volume rise, after August saw an increase of 9.2% compared with the same time in 2017. This means it handled 168,289 TEU in August-September – a new record.
If October 2018 volume is an increase on 2018, it will be the port’s busiest peak-season in its 91-year history.
It credited its increase in traffic on the growing US economy and rapidly rising consumer confidence. However, it also warned that it is too soon to judge the effects of the US-China trade war and that it could see USD $2 billion worth of imports affected if tensions escalate.
John Driscoll, Maritime Director, Port of Oakland, commented: “We’re encouraged by this outcome and guardedly optimistic that the trend will continue throughout peak season.
“Economic indicators lead us to believe that import volumes should remain healthy”.
A statement from the port read: “The Port reported that import volume increased 5 percent last month over September 2017 totals. August 2018 imports were up 9.2 percent compared to the same month last year.
“Continued strength in the U.S. economy, spurred by consumer spending, is driving the import surge.
“While it’s too soon to project the impact of 2018 tariff increases on cargo from China, tariffs could affect $2 billion in imported goods.
“Total container volume - which includes imports, exports and empty containers – is up 3.4 percent this year, the Port reported. If the trend holds, Oakland would break its all-time total volume record established in 2017.”