The Port of Oakland has reported a significant increase in container volume for February, surpassing the figures for the same month in 2023. The data reveals a notable 32.1% increase in full imports, with 76,734 Twenty-Foot Equivalent Units (TEUs) moved through Oakland in February 2024, compared to 58,073 TEUs in February 2023. Furthermore, full exports rose by 24.2%, marking the third consecutive month of growth and achieving the highest monthly total since May 2022. Combined full TEU for the first two months of 2024 is up by 18.1% over the same period in 2023, showcasing a robust start to the year for the port.
However, the port observed a decline in empty container movements, with empty imports and exports dropping by 9.8% and 7.2% respectively. This trend indicates that more containers are returning to Asia loaded with U.S. goods, suggesting an improvement in the trade balance.
Port of Oakland Maritime Director Bryan Brandes expressed optimism about the continued growth in cargo volume throughout the year, potentially reversing some of the declines experienced in 2022 and 2023. The positive trends in container throughput are attributed to strong consumer demand in the Northern California and Rocky Mountain states region for imports, and in Asia for the region’s exports.
The introduction of the Freight Intelligent Transportation System (FITS) at the Port of Oakland, a collaboration involving Parsons Corporation, Advent eModal, Mobile Programming, and other key stakeholders, is expected to further enhance the port’s operational efficiency. Additionally, the Port of Oakland’s consistent ranking as the leading U.S. port in international refrigerated export TEU for seven consecutive years highlights its significant role in the global supply chain.
Credits:
- Port Technology International, “Port of Oakland Enjoys Upward Trend in Container Throughput”, Port Technology International Article.
