October Cargo Volume Rises at Port of Long Beach
The second-busiest container port in the United States, Port of Long Beach, continued its winning streak with a 6.3 percent rise in October cargo volume compared to the same month last year.
A total of 619,983 TEUs (twenty-foot equivalent units) moved through the port in October. Imports were down 0.8 percent to 307,995 TEUs. Exports increased by 6.5 percent to 128,308 TEUs.
“We had an early peak in July and August, with much of the inventory for the holiday shopping season coming early. On the export side, we’ve seen increases for the past two months, as shipping lines choose Long Beach for its reliability and service,” said Port of Long Beach CEO Jon Slangerup. “Year to date, we’re up more than 5 percent, so 2015 is shaping up to be one of our best years ever.”
Empty containers, sent back overseas to be refilled with goods, continued to rise 20.8 percent to 183,681 TEUs.
The National Retail Federation has forecast that retail sales in November and December would increase 3.7 percent from last year. Through the first 10 months of 2015, Long Beach cargo was up 5.4 percent overall compared to the same period last year.
“Volume is reaching pre-recession levels of trade and demonstrating the ability of Long Beach industry stakeholders to handle high amounts of cargo,” the port said in its monthly report.
According to the port, this is its best October in eight years, and the top quarter in the port’s 104-year history.