The Port of Long Beach announced that cargo volumes in May fell compared to a year ago, when a historic high was set for the month.
According to Port of Long Beach Executive Director Mario Cordero, a variety of factors are combining to impact international trade.
“One year into the trade war, escalating tariffs have pushed retailers to order goods early, warehouses are brimming with inventory as a result, and in response, ocean carriers are managing their vessels to deal with reduced demand,” Cordero said. “We are hopeful Washington and Beijing can resolve their differences before we see long-term changes to the supply chain that impact jobs in both nations.”
A total of 573,623 twenty-foot equivalent units (TEUs) moved through the Port in May, 16.6% down compared to the same month in 2018. Imports decreased 19.5% to 290,568 TEUs. Exports declined 15.3% to 120,577 TEUs, while empty containers sent overseas dipped 11.7% to 162,479 TEUs.
Calendar year to date, the Port has handled more than 3 million containers, 6% fewer than the same point in 2018.
Source: Port of Long Beach< Return