Hanjin Bankruptcy Dampens Port Volumes

The Port of Long Beach cargo volumes fall for the third month in a row.

LOS ANGELES—The Hanjin bankruptcy dampened productivity at the Port of Long Beach during the month of September. Hanjin shipping containers account for 12.3% of cargo volumes at the Port of Long Beach, and the bankruptcy reduced both containers on vessels and reduced calls by Hanjin-operated ships. As a result, port cargo volumes were down 16.6% for the month of September.

Because of the Hanjin bankruptcy, the port anticipated a decrease in port volumes. “We expected the cargo volume to be reduced from last year,” Lee Peterson with the Port of Long Beach, tells GlobeSt.com. “One reason was the Hanjin bankruptcy right at the end of August, and the fact that September last year was very strong. This was about the reduction that we expected.”