Port of Oakland reports positive first quarter

The Port of Oakland today 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.

More Info: https://www.portofoakland.com/press-releases/port-oakland-reports-positive-first-quarter/