Despite the feeling of uncertainty, the Port of Long Beach marked the second busiest Q1 in its history, transmitting up to 1.8 million twenty-foot equivalent units (TEUs) from January to March. Mainly, the figure is based only in Q1 of 2018, when the Port reached an annual record for container movement at 8.1 million TEUs.
First quarter 2019 cargo movement eased 4.7% compared to 2018’s opening quarter.
Port of Long Beach Executive Director Mario Cordero stated
With warehouses full from shippers rushing to beat the looming threat of escalating tariffs, shipments slowed somewhat. It’s going to take some time for inventory to cycle to markets and for typical growth to resume.
About 1.4 million TEUs were transferred through the harbour from December 2018 to January. December was the Port’s second-busiest month ever.
Moreover, Commission President, Tracy Egoscue, addressed that the recent Pulse of the Ports economic forecast, predicted a 1.8% increase in North American imports this year.
As Egoscue commented, in light of last year’s success, they now expect a more modest development.
They now aim to position the Port for sustained long-term success with the multibillion-dollar capital improvement plan, designed to provide customers with cargo movement that is predictable, reliable, efficient and fast.
Concluding, according to the port’s statement, marine terminals and dockworkers transferred 552,821 TEUs in March, a 3.9% decrease compared to the same month a year ago. Imports were down 7.8% at 247,039 TEUs while exports were 7.7% lower, 131,436 TEUs. Empties shipped overseas rose 5.7% to 174,346 TEUs.