PORT OF LONG BEACH REPORTS 20% VOLUME DECLINE IN APRIL

Cargo container traffic slowed at the Port of Long Beach in April as consumers continued to limit purchases and shippers shuffled trade from the West Coast to seaports on the East and Gulf coasts.

Port of Long Beach moved 656,049 twenty-foot equivalent units (TEUs) last month, down 20.1% from April 2022, which was the Port's busiest April on record.

 

For the period, imports also declined 21.8% to 313,444 TEUs, while exports increased a narrow 0.6% to 122,663 TEUs — and empty containers moving through the Port decreased 26.2% to 219,943 TEUs.

 

Slow growth in second half expected


"The unprecedented consumer demand we saw at the height of COVID-19 has diminished and cargo flows are now closer to pre-pandemic levels," said Mario Cordero, executive director at the Port of Long Beach.

 

"We expect slow growth in the second half of 2023, as retailers continue to clear surplus inventory from their warehouses," he added.

 

Sharon L. Weissman, president of the Long Beach Harbor Commission, noted that the port's facilities, dockworkers, marine terminal operators and staff continue to make the port a "premier gateway for trans-Pacific goods movement."

 

"So we do expect cargo volumes to rebound eventually as shippers seek out the top-notch customer service of the Port of Choice," Weissman said.

Economists say consumer spending has softened since the start of the year, while the Federal Reserve's interest rate adjustments have slowed inflation as intended.

Meanwhile, Port of Long Beach has moved 2,377,375 TEUs during the first four months of 2023, down 27.5% from the same period in 2022.