Early 2018 Cargo Volumes Break Records

The Port of Long Beach is following up the record-breaking trade volumes in 2017 with another record-breaking year. For the fourth consecutive month, the Port of Long Beach has seen an increase in cargo volumes, surpassing the cargo numbers from the first four months of 2017, the previous record. In April, cargo volumes at the port increased 11%, and for the first four months of the year, container volumes are up 17% over last year. As a result, the Port of Long Beach expects cargo volumes for the year to increase 7%, setting a new record.

“There are multiple factors for the activity this year,” Lee Peterson of the Port of Long Beach, tells GlobeSt.com. “For one thing, there’s simply an increase in trade due to strong consumer demand, and that’s something the National Retail Federation for example has documented. Meanwhile, there is also word that we are seeing additional cargo due to trade tensions, as companies seek to get products overseas before the implementation of new tariffs increases prices for those products.”

Import containers for the month increased 8.4%, which isn’t unusual. Exports, however, jumped up 22%, which is unusual, considering exports have been trending down over the long term. “Some of the export increase is likely due to the fact that buyers of the exports are looking to get as much product overseas now, before the new tariffs take effect,” says Peterson. “For example, we could see tariffs on exported nuts, pork, wine, scrap aluminum and more, so exporters are moving it overseas now.”