The Port of Oakland’s full imports and full exports in November have dropped off from October 2022, and are also down compared to November 2021.
The Port of Oakland recorded 131,929 loaded TEU in November 2022, representing a decline of 15 per cent from November 2021 where 155,252 TEU was recorded.
Full imports decreased by 17.4 per cent over November 2021 volume. In November 2022, the port handled 68,646 imported TEU compared to 83,097 TEU in November 2021. The port handled 79,459 imported TEU in October 2022.
Full exports decreased by 12.3 per cent in November 2022, totalling 63,283 exported TEU compared to 72,155 TEU in November 2021 and 66,408 exported TEU in October 2022.
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“This decline is not unexpected,” said Port of Oakland Maritime Director, Bryan Brandes.
“Despite October gains, long-term indicators continue to predict a decline in demand for goods. The good news is that the reduction of incoming containers has allowed us to begin alleviating congestion at port facilities, increasing efficiencies in port operations.”
Ocean rates have continued to plummet with the weakening of demand.
The introduction of new services has been postponed while sailings continue to be canceled.
Consequently, the wait-time for berths is less than earlier this year so ships are spending less time at Port of Oakland facilities.
Terminal yards are also beginning to shed extra containers from their facilities. Empty container exports rose by 75.6 per cent compared to November 2021.
