Friday, July 13, 2018

"Port of Long Beach Sees Busiest Month Ever"

by Bill McBride on 7/13/2018 05:50:00 PM

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

Container cargo volumes reached record heights at the Port of Long Beach last month, surging past the previous mark and distinguishing June 2018 as the Port’s best month ever.

Trade increased 14.2 percent in June, compared to the same month in 2017. The Port’s terminals moved 752,188 twenty-foot equivalent units (TEUs), 4.4 percent higher than the previous “best month” record set in July 2017.
And from Reuters: China's imports to U.S. ports start peaking early amid tariff threat
Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.

Retailers such as Walmart Inc and Amazon.com (face uncertainty due to U.S. President Donald Trump’s threat to impose more tariffs on Chinese goods, and the jump in imports from the country was likely because of “pre-emptive buying in anticipation of the tariffs”, said Ben Hackett, founder of international maritime consultancy Hackett Associates.

“This is a bump that isn’t quite normal,” he said.
It appears port traffic is picking up early this year in an attempt to beat the tariffs. I'll post a graph once the Port of Los Angeles reports June traffic.