Monday, August 14, 2017

LA area Port Traffic increased in July

by Bill McBride on 8/14/2017 12:55:00 PM

From the Port of Long Beach: Port of Long Beach Sees Busiest Month Ever

Surging cargo volume in July set a record for the best month in the Port of Long Beach’s 106-year history, surpassing the previous high mark set in August 2015 for the number of containers moved across its docks.

With total volume of 720,312 twenty-foot-equivalent units (TEUs) in July, cargo traffic has increased for five consecutive months in Long Beach, and in six of the first seven months of 2017. Volume is up 6.4 percent for the calendar year compared to 2016.
Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic.

The following graphs are for inbound and outbound traffic at the ports of Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units or 20-foot-long cargo container).

To remove the strong seasonal component for inbound traffic, the first graph shows the rolling 12 month average.

LA Area Port TrafficClick on graph for larger image.

On a rolling 12 month basis, inbound traffic was up 1.2% compared to the rolling 12 months ending in June.   Outbound traffic was up 0.2% compared to the rolling 12 months ending in June.

The 2nd graph is the monthly data (with a strong seasonal pattern for imports).

LA Area Port TrafficUsually imports peak in the July to October period as retailers import goods for the Christmas holiday, and then decline sharply and bottom in February or March depending on the timing of the Chinese New Year.  

In general imports have been increasing, and exports are moving sideways.