Cargo Volumes Near Record in January

Cargo volumes at the Port of Long Beach neared record-breaking levels in January as part of the pre-Lunar New Year rush. In January 2018, cargo volumes were highest in the port’s history. This January, cargo volumes matched the record, decreased .1%, with a total of 657,286 TEUs handled by the port. Lunar New Year, which was celebrated in February, is historically a slow month for the port, and it is typical to see heightened cargo activity in the preceding month.

“Lunar New Year is a major holiday in China. Factories close to allow workers to travel home to spend time with their families,” Eric Bradley, senior writer at the Port of Long Beach, tells GlobeSt.com. “Any U.S. seaports that trade with nations in East Asia are likely to experience proportional impacts connected to the Lunar New Year celebrations. The Port of Long Beach feels the effects of this on an annual basis because East Asia is our main trading partner. For example, China alone accounts for almost 70% of containerized imports and 40% of exports.”

While Lunar New Year impacts the port activity, the port in general has handled record-breaking volumes throughout 2018, in part because retailers are preparing for new tariffs imposed this year by advance ordering. The activity in January could be a continuation of that trend from late last year. “Retailers plan for the holiday cycle and you do see an increase in cargo activity ahead of Lunar New Year each year,” says Bradley. “It’s difficult to tell how much of our container traffic in January was due to Lunar New Year, considering the ongoing trade dispute.”