Port of Oakland’s January container volume continues to rise

The Port of Oakland has documented a continuation in the upward trajectory of its container volumes into January 2024, perpetuating a trend that initiated in 2023. January witnessed a notable augmentation in full imports, registering an 8.2 percent elevation to 72,081 TEUs (twenty-foot equivalent units), an increase from the previous year's 66,637 TEUs. Full exports similarly experienced a 9.3 percent ascendancy, with the figures rising from 57,279 TEUs in January 2023 to 62,596 TEUs in January 2024. Contrarily, there was a marginal decrease in empty imports by 1.1 percent and a substantial decline in empty exports by 24.5 percent.

The year 2023 saw approximately 15-20 percent of the total TEU volume attributed to consumable commodities, with a significant 50-55 percent of exports comprising consumable goods. Noteworthy among the imported fresh produce were bananas, pineapples, and various fruits and vegetables, while exports were dominated by nuts, citruses, and grapes.

The uptick in imports has been linked to robust consumer demand and a seasonal surge preceding the Lunar New Year closures in Asia—a predictable annual pattern that yielded a significant increase in volumes. The growth in export volume is partially credited to the sustained high demand in Asia for U.S. agricultural exports. Despite the increases observed in December 2023 and January 2024, the expectation for the year 2024 is a stabilization of volume comparable to 2023. Additionally, despite an industry-wide deceleration, the Port of Oakland continues to lead in the refrigerated cargo market share among major U.S. ports.