The Port of Oakland announced on Friday that its total loaded container volume dropped by 8% in August compared to August 2021. Last month 155,682 loaded TEUs (twenty-foot containers) transited the port, compared to 169,602 TEUs in August 2021.
Loaded imports declined by 10.2% recording 87,844 TEUs last month compared to 97,850 in August 2021, while loaded export containers experienced a 5.5% decline, with 67,838 TEUs passing through the port in August compared to 71,753 TEUs in August 2021, the port said. Full imports in 2022 year-to-date were down by 5% compared to the first 8 months of 2021.
Freight rates for cargo shipped from Asia to the U.S. continue to drop pointing to a softening in demand for imports. Continued congestion at container yards may still be a factor in ship delays at the Oakland Seaport, with most docked vessels staying two or more days.
“We’re beginning to see signs of supply chain recovery after multi-year pandemic-related congestion, but we still have a way to go,” said Port of Oakland Maritime Director Bryan Brandes. "We will continue working with our industry partners to boost cargo fluidity and vessel service.”