Lunar New Year Impacts Trade at Port of Long Beach
Date: Monday, March 18, 2019
Source: American Journal of Transportation
Second-busiest February follows record month in 2018
A lull in shipping connected to Lunar New Year and a record-shattering month a year ago combined to drive February cargo numbers down at the Port of Long Beach. The result was still the second-busiest February in the Port’s 108-year history.
“Overall, our volumes have increased and cargo flow has become more consistent as retailers constantly replenish inventory in the e-commerce economy,” said Port of Long Beach Executive Director Mario Cordero. “Last year set high standards. We had our busiest months and year ever, but we are still expecting modest growth in 2019.”
“Lunar New Year was earlier this year, shrinking shipments for most of February,” said Long Beach Harbor Commission President Tracy Egoscue. “We’re preparing for busier months ahead, and will work with all of our supply chain partners this year to deliver efficient, fast service for our customers as they adjust to market changes.”
Terminals moved 596,616 twenty-foot equivalent units (TEUs) last month, a 9.8 percent decrease compared to February 2018. Imports dropped 11.5 percent to 302,865 TEUs, while exports declined 19.6 percent, to 105,287 TEUs. Empty TEUs were flat at 188,465, 0.1 percent lower.
The Port of Long Beach is one of the world’s premier seaports, a gateway for trans-Pacific trade and a trailblazer in goods movement and environmental stewardship. With 175 shipping lines connecting Long Beach to 217 seaports, the Port handles $194 billion in trade annually, supporting more than 575,000 Southern California jobs.