The Port of Redwood City announced this week that total cargo tonnage is down by 21% from a year ago — a phenomenon that has affected ports across the globe grappling with decreased consumer demand, government mandates and canceled sailings in the wake of the COVID-19 pandemic.
The total cumulative Fiscal Year 2019-20 tonnage was 2.1 metric tons as opposed to 2.65 MT in Fiscal Year 2018-19 — a reduction of 547,682 MT. However, the volume still exceeds the most recent tonnage shortfall in 2017 of 1.55 MT, according to port officials.
“Most of this decline took place in the fourth quarter of our fiscal year, which tells us it is a direct result of the statewide mandates impacting the construction industry due to COVID-19,” Port of Redwood City Board Chair Ralph A. Garcia said in a press release. “Prior to that, we were on track for our third record-breaking year in a row with cargo movement.”
Despite these numbers, port officials are optimistic that the dip will be short lived, as cargo numbers are back up to about 80% of pre-COVID and are still considerably higher than the numbers from 2017. From a financial standpoint, the reduction in tonnage movement affects the port’s gross revenues by about 6%, from $9.3 million to $8.7 million over the previous year, according to officials.
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September 02, 2020 at 06:15PM
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Port of Redwood City reports decline in tonnage - San Mateo Daily Journal
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