Monday, July 13, 2020

"Cargo Declines at Port of Long Beach in June"

by Calculated Risk on 7/13/2020 11:05:00 AM

Note: I'll have more on LA area port traffic once the Port of Los Angeles releases June statistics.

From the Port of Long Beach: Cargo Declines at Port of Long Beach in June

The COVID-19 pandemic continued to drive down demand for goods in the second quarter of 2020, leading to an increase in canceled sailings and a decline in cargo containers shipped through the Port of Long Beach in June.

Dockworkers and terminal operators moved 602,180 twenty-foot equivalent units (TEUs) last month, an 11.1% decline compared to June 2019. Imports shrank 9.3% to 300,714 TEUs and exports dropped 12.2% to 117,538 TEUs. Empty containers shipped overseas to Asia were down 13.1% to 183,928 TEUs.

Economic uncertainty brought by decreased consumer spending and ongoing health concerns amid the COVID-19 epidemic contributed to a drop during the first half of 2020, with cargo shipments at 3,433,035 TEUs, 6.9% less than the same period last year.

Canceled sailings continued to rise at a rapid rate in the second quarter as ocean carriers adjusted their voyages to a decline in demand for imports during the national COVID-19 outbreak,” said Mario Cordero, Executive Director of the Port of Long Beach. “The economic challenges may persist for some time, but the Port of Long Beach continues to invest in infrastructure projects that will meet the needs of our customers.”

The San Pedro Bay ports complex – Long Beach and L.A. combined – had 41 canceled sailings in the first half of 2019. This year it was 104 – 37 of which were destined for the Port of Long Beach.
emphasis added