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The Port of Oakland said loaded container volume in September was 156,959 TEUs, about a 1% increase over September 2018. The increase was due to a 2.8% increase in inbound containers to 84,901 TEUs moving through the port's terminals; there was a slight 1.2% dip in loaded outbound containers to 72,058 TEUs in September.
However, for the first nine months, the port said loaded volumes were up 3.1% year-over-year, with loaded imports up 3.5% and loaded exports up 2.7%.
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The port attributed growth this year "to continued demand for imports of goods to satisfy the demand from consumers in the strong regional economy of Northern California. Export volumes also continue to grow as U.S. shippers find new markets outside of China."
Port of Oakland Maritime Director John Driscoll said, "We remain cautious but optimistic that we can maintain this cargo volume performance through the rest of the year."
Oakland's grand total container volume was up only 1.3% in the first nine months of 2019 compared to the same period in 2018. The port said this is due to fewer empty containers being repositioned from the U.S. back to Asia.
On Oct. 11, Centerpoint Properties broke ground on a 466,830-square-foot logistics building on 27 acres that is the first phase of a logistics complex called CenterPoint Landing that may eventually encompass 123 acres. The port says the new facility will enhance logistics in the region by reducing truck travel times, distance and cost and provide living-wage jobs for Oakland residents.
Centerpoint also announced on Oct. 15 that it had purchased a 130,513-square-foot warehouse situated on 6.8 acres at 5901 San Leandro St., 5.6 miles from the Port of Oakland on a heavy-haul corridor.
CenterPoint said it has acquired five buildings in East Bay over the past year. Centerpoint is owned, in part by CalPERS, the California Public Employees' Retirement System.
Image Sourced from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.