Port Breaks Cargo Volume Records

LONG BEACH, CA—In August, the Long Beach Port broke import cargo volume numbers for the second month in a row. During the month, the port reached 703,652 twenty-foot equivalent units, a 22.8% increase year-over year. According to Art Wong, of the Long Beach Port, this is a clear indication that retailers are confident in the economy and are boosting their orders for the fall and holiday seasons.

“It looks like cargo was coming back after being diverted earlier in the year after the delays and back-ups that we had had over the winter last year. The August numbers are so strong that the inventories were wiped out, and so importers in particular are ordering a lot to replenish what they have on those shelves and they are starting to make a big bet on sales for this fall,” Wong tells GlobeSt.com. “The GDP numbers are strong, and may even be stronger than we originally anticipated. There is a lot of optimism, and the strong dollar is making imports cheaper than usual. Plus, over the past few months, China has been devaluing and making goods even cheaper. If you add all of this together—a strong US economy and lower cost imports—there is a lot of reason for importers to be really optimistic.”