Port of Oakland loaded box volume declines in May as expected

Port of Oakland loaded container volume decreased 12.7 percent last month from May 2019 totals, according to data released today. The Port had been expecting cargo decline due to continued COVID-19 impacts on global shipping.

The Port pointed to lower consumer demand in domestic and foreign markets, both driven by coronavirus pandemic uncertainty, as the main reason for declining trade volume.
“Since March, the Port has seen indications of more significant cargo declines, so the May results are not unexpected,” said Port of Oakland Acting Maritime Director Delphine Prevost. “Ocean carriers have been reducing the number of vessels in service in anticipation of expected declines in import demand. It’s created challenges for exporters who are seeing less predictable vessel schedules and facing issues with finding capacity for their exports.”
According to the Port, May 2020 loaded import volume dropped 14.6 percent from May 2019.  Loaded exports declined 10.7 percent. The return of empty containers to Asia decreased 28 percent.  As a result, total cargo volume declined 16.8 percent.
Overall, the January-to-May 2020 cargo statistics show a 7.8 percent decrease compared to the same time period in 2019.