Port of Oakland’s container volume dropped in November with both full imports and full exports being at lower levels compared to November 2021 and October 2022 volumes.
Total loaded container volume declined 15% from November 2021, recording 131,929 loaded TEUs. November full imports of the Californian port decreased by 17.4% year on year, reaching 68,646 TEUs.
At the same time, full exports were down by 12.3% year on year, recording 63,283 TEUs in November 2022.
“This decline is not unexpected,” pointed out Port of Oakland maritime director, Bryan Brandes, who added that “despite October gains, long-term indicators continue to predict a decline in demand for goods. The good news is that the reduction of incoming containers has allowed us to begin alleviating congestion at port facilities, increasing efficiencies in port operations.”
On the other side, November empty container exports rose significantly by 75.6% compared to the same month in 2021.
Port of Oakland said that with the weakening of demand, ocean rates continue to drop, sailings continue to be cancelled and the introduction of new services has been postponed.
As a result, the wait-time for berths is less than earlier this year, so ships are spending less time at Port of Oakland facilities, while terminal yards are also beginning to shed extra containers from their yards.