Port Cargo Volumes Yo-Yo with February Dip

LOS ANGELES—Cargo volumes at the Port of Long Beach are yo-yoing after a strong start to 2017. In February, cargo volumes were down 11.2$ year-over-year and down from the previous month. After suffering decreasing volumes in 2016, due to impacts from the Hanjin Bankruptcy, January cargo volumes were up 8.7%. The fall February is likely due to the Lunar New Year, which slows exports from China, a major client at the Port of Long Beach.

“Lunar New Year was two weeks later last year, and most of the effect was in March although that effect was muted by other factors,” Lee Peterson, the communications lead at the Port of Long Beach, tells GlobeSt.com. “This year, Lunar New Year was at the end of January. The effect of businesses in Asia shutting down for two weeks was felt most in February, due to the time it takes for cargo ships to transit the Pacific. The decline is also due to the fact that February 2016 was a record month for the Port of Long Beach.”