The Port of Oakland's October export container volume rose to the highest volume in any single month seen in 2023.
Full export TEUs (twenty-foot containers) rose 4% during October 2023 compared to October 2022, with a volume of 68,974 TEUs. The fading of supply chain congestion caused by pandemic-related disruptions continues to bring exporters back.
“Our port remains the preferred export gateway for fruits, nuts, meats, and grains since we are the closest to agricultural areas in the Central Valley,” said Port of Oakland Maritime Director Bryan Brandes. “We also offer the fastest transit times to Asia since we are the last port of call in the US before ships go back across the Pacific.”
Full Imports are down 8% in October 2023 compared to October 2022. Import volumes seem to have stabilized around 70,000 TEUs per month.
Although national consumer spending may be dampened, consumer spending remains strong in the home market of Northern California. However, it has declined somewhat from the heights it reached during the pandemic.
“Import growth is expected to remain flat as traffic continues to stabilize after the significant spikes we saw during the pandemic years,” says Brandes. “Shipping rates remain low and carriers are signaling that will remain well into 2024.”
Congestion at the Port of Oakland has resolved in 2023 and ships are now able to arrive and depart without delay.