LOS ANGELES—The Port of Long Beach is having a phenomenal year. The port has been reporting increased cargo volumes for much of the year, and has now had its busiest May in history. The port saw cargo volumes increase 1.2% over May 2016, which was the second busiest May in port history.
“Our initial estimates are for a 5% to 7% increase this year, so we still expect to reach that by year's end,” Lee Peterson of the Port of Long Beach tells GlobeSt.com. “For the Port of Long Beach, it's a combination of the increasing consumer demand that the National Retail Federation has observed nationwide, and also the change in shipping company alliance structure, that is bringing additional ship calls to the Port of Long Beach this year.”
To date, cargo traffic has already increased more than 4%, and the port is heading into its peak season. During those months, trade is expected to pick up. “We do expect an uptick in cargo activity from August through October, the traditional “peak season,” where retailers and others stock up for the holiday shopping season,” says Peterson.
In the month of May, the Port of Long Beach a total of 648,287 twenty-foot equivalent units moved through the harbor with import containers accounting for 336,594 of the total, a 1.8% increase over last year. While the month in total was record breaking for the port, exports fell in May. Export containers were down 14.3% with 118,786 TEUs, and empty containers rose 12.6% to 192,908.”
The port's activity is especially healthy considering the uncertainty at the start of the year around the new administration and potential changes to trade agreements. Peterson says that despite the changing administration, trade has remained strong. “Trade is fairly robust and we expect that businesses will continue to trade and seek to improve their offerings and goods and services for customers around the world.,” he says.
LOS ANGELES—The Port of Long Beach is having a phenomenal year. The port has been reporting increased cargo volumes for much of the year, and has now had its busiest May in history. The port saw cargo volumes increase 1.2% over May 2016, which was the second busiest May in port history.
“Our initial estimates are for a 5% to 7% increase this year, so we still expect to reach that by year's end,” Lee Peterson of the Port of Long Beach tells GlobeSt.com. “For the Port of Long Beach, it's a combination of the increasing consumer demand that the National Retail Federation has observed nationwide, and also the change in shipping company alliance structure, that is bringing additional ship calls to the Port of Long Beach this year.”
To date, cargo traffic has already increased more than 4%, and the port is heading into its peak season. During those months, trade is expected to pick up. “We do expect an uptick in cargo activity from August through October, the traditional “peak season,” where retailers and others stock up for the holiday shopping season,” says Peterson.
In the month of May, the Port of Long Beach a total of 648,287 twenty-foot equivalent units moved through the harbor with import containers accounting for 336,594 of the total, a 1.8% increase over last year. While the month in total was record breaking for the port, exports fell in May. Export containers were down 14.3% with 118,786 TEUs, and empty containers rose 12.6% to 192,908.”
The port's activity is especially healthy considering the uncertainty at the start of the year around the new administration and potential changes to trade agreements. Peterson says that despite the changing administration, trade has remained strong. “Trade is fairly robust and we expect that businesses will continue to trade and seek to improve their offerings and goods and services for customers around the world.,” he says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.