Friday, November 16, 2018

Long Beach Moves More Boxes

By Karen Robes Meeks

The Port of Long Beach has shattered its October cargo record for the second straight year when it moved 705,408 TEUs, making it the port’s third-busiest month ever, according to numbers released this week. During that period, the port also handled 364,084 TEUs, up 7.4 percent from a year ago, while exports fell five percent to 119,837 TEUs.

The record volume, which is about 5.4 percent more than recorded for this period last year, is a sign of shippers’ reaction to a trade war between the US and China.

“Our higher import volumes suggest some retailers expect US consumers will be big spenders this holiday season,” said port Executive Director Mario Cordero. “Other importers are rushing shipments to beat escalating tariffs. At the same time, the trade war has clearly slowed American exports to China.”

The port is on track for record-breaking volumes in 2018. So far, the port has processed more than 6.7 million TEUs, surpassing 2017’s numbers (from January to October) by 7.9 percent.