Port of Oakland (Source: Port of Oakland) 

 

According to the port's announcement, imports increased significantly for the fourth consecutive month, increasing 32.1% to 76,734 TEU compared to 58,073 TEU in February 2023. This growth was driven by strong consumer spending in Northern California.

Meanwhile, exports also saw a notable increase, up 24.2% to 69,242 TEU in February 2024, compared to 55,279 TEU in February 2023. This marked the third consecutive month of export growth and the highest monthly growth since May 2022.

Overall, total full TEU throughput in the first two months of 2024 increased by 18.1% compared to the same period in 2023.

“The trends we saw in previous months have continued in February. Consumer demand remains strong in Northern California & Rocky Mountain states region for imports and in Asia for the region's exports. We believe that cargo volume will continue to modestly grow for the rest of the year, reversing some of the declines we saw in 2022 and 2023,” said Bryan Brandes, maritime director at Port of Oakland.

In February 2024, the Port of Oakland saw a 9.8% decrease in empty container imports, with 13,142 TEUs passing through the port compared to 17,299 TEUs in February 2023.

Similarly, empty container exports decreased by 7.2%, handling 23,633 TEUs in February 2024, as opposed to 38,014 TEUs in February 2023. This marked the seventh consecutive month of decline and indicates a trend in More containers carrying American goods return to Asia.

 

Source: Phaata.com (According to ContainerNews ) 

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