Port Of Oakland Reports Positive First Quarter
The Port of Oakland reported a positive first quarter in its cargo volume. Through the end of March 2019, the Port handled 612,151 TEUs—the equivalent of one 20-foot long container—compared to 587,356 TEUs during the same period in 2018. That represents a 4.2 percent increase. There has been some concern in the shipping industry that a recent import surge has cooled. The surge was caused by shippers last year trying to get ahead of possible new tariffs affecting U.S.-China trade.
“Though the import rally has calmed down, we are still seeing a strong consumer demand in Northern California and Western Nevada,” said Port of Oakland Maritime Director John Driscoll. “The Bay Area’s strong consumer-based economy has helped the Port of Oakland absorb the impact of the weakening rally better than other ports.”
The Port last month handled 213,972 twenty-foot containers compared to 193,341 in March 2018. That represents at 10.7 percent increase. Loaded exports also grew 7.6 percent last month compared to March 2018.
Reference: portofoakland.com
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