Hanjin, Shifting Alliance Routes Drag Long Beach Box Volumes Down
Shifting alliance routes and the Hanjin bankruptcy continued to affect US Port of Long Beach (POLB) volumes in November 2016, when container traffic was 13.8 percent lower than the same month last year.
A total of 534,308 TEU units was moved through the harbor last month, compared to 619,699 TEUs seen in November 2015.
November imports fell 11.8 percent to 270,610 TEUs from 306,654 TEUs recorded in 2015.
Box exports declined 3.1 percent to 120,897 TEUs, against 124,717 TEUs handled in November 2015.
Through the first 11 months of 2016, port’s container traffic, which stands at 6.226,242 TEUs, is 5.6 percent behind the same point last year.
“The port experienced its second-best November ever in 2015, part of a six-month run of gains to end the year above 7 million TEUs for only the third time in its history. This year the Port has faced challenges as ocean carriers have merged, reorganized into new alliances and realigned routes. Additionally, a major customer, Hanjin Shipping, declared bankruptcy in August,” POLB said.
Hanjin Shipping represents 12.3 percent of Long Beach’s containerized volume and holds a 54 percent stake in Total Terminals International, the operator of Pier T, one of the port’s largest terminals.
Founded in 1911, the 3,200-acre POLB is a gateway for trade between the United States and Asia. Each year, the port handles more than 6.8 million TEUs and 82.3 million metric tons of cargo, with 2,000 vessel calls.