Port Of Long Beach Cargo Volumes In May Fall Compared To Last Year
Port of Long Beach cargo volumes in May fell compared to a year ago when a historic high was set for the month. A variety of factors are combining to impact international trade, according to Port of Long Beach Executive Director, Mario Cordero.
“One year into the trade war, escalating tariffs have pushed retailers to order goods early, warehouses are brimming with inventory as a result, and in response, ocean carriers are managing their vessels
to deal with reduced demand,” Cordero said. “We are hopeful Washington and Beijing can resolve their differences before we see long-term changes to the supply chain that impact jobs in both nations.”
A total of 573,623 twenty-foot equivalent units (TEUs) moved through the Port in May, 16.6% down compared to the same month in 2018. Imports decreased 19.5% to 290,568 TEUs. Exports declined 15.3% to 120,577 TEUs, while empty containers sent overseas dipped 11.7% to 162,479 TEUs.
Calendar year to date, the Port has handled more than 3 million containers, 6% fewer than the same point in 2018.
Reference: polb.com
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