The Port of Long Beach handled a total of 6,775,171 TEUs in 2016, a decrease of 5.8% compared to 2015.

The port attributed the result to industry headwinds and challenges such as the restructuring of carrier alliances and the bankruptcy of major customer Hanjin Shipping, which also held a majority stake in the port’s largest container terminal.

“As the new year starts, we’re grateful to be able to put the Hanjin bankruptcy behind us,” said Duane Kenagy, interim chief executive of the Port of Long Beach. “At the same time, MSC’s quick interest in Pier T once it became available shows the facility’s value to the industry. We’re looking forward to a mutually beneficial partnership with MSC and the 2M Alliance.”

The port recorded a strong performance at the start of the year but the cargo volume in December 2016 was 8% lower year-on-year. However, 2016 was still the port’s fifth-best year ever.

“Last year was turbulent, with numerous ocean carrier mergers and other changes,” said Lori Ann Guzmán, president of the Harbor Commission. “Now we have one of the largest ocean carriers in the world as a major partner and we’re well positioned to rebound in 2017. While the industry strives for equilibrium, Long Beach will continue be a reliable port of entry and continue to provide the fastest, most efficient services for trade from the Far East.”