Port of Oakland imports up 1.9 percent in June

Port of Oakland loaded import volume grew 1.9 percent last month from June 2019, according to data released today. 

The gain was unexpected given that shipping lines canceled 10 percent of their scheduled Oakland visits due to the trade-related impact of coronavirus. 

The port attributed the uptick in imports to retailers accelerating shipments to the U.S. in light of:

Cargo-carrying capacity that dwindles each month as shipping lines continue to cancel voyages; and
An anticipated rise in freight rates.

Oakland’s overall container volume – which includes imports, exports and empty containers - declined 2.3 percent in June from 2019 totals. 

The port handled the equivalent of 199,011 twenty-foot containers in June 2020 compared to 203,730 a year ago. 

According to port spokesmen, the cargo decrease resulted from a coronavirus pandemic that continues to dampen global trade.  

June export volume declined 5.7 percent. 

Spokesmen added that the weakening export performance was likely due to reduced consumer demand in foreign markets caused by COVID-19 disruptions. 

Additionally, China instituted new restrictions on wastepaper exports from the United States which further dampened export volumes. The return of empty containers to origins in Asia decreased 14.5 percent.

The “Top 20 U.S. Port Report,” recently released by Descartes Datamyne, shared this insight with LM: 

The Port of Oakland maintained its 8th position in the top twenty in 2019, with an impressive increase of 9.22 percent in total TEU imports over 2018. Oakland’s total value of imports also increased to $30.85B, a 3.26 percent expansion over 2018’s $29.87B. 

While still seeing a slightly less impressive peak season due to reduced shipments from China, the Port of Oakland was a key port of entry for commodities from other Asian nations, with Vietnam, Taiwan, South Korea, and Thailand all seeing increases in year-over-year volume. 

This meant that while the larger California ports such as Los Angeles and Long Beach suffered from the decrease in Chinese exports, Oakland continued to enjoy rising shipment volumes throughout the year.