An ongoing trade war between US and China seems to affect volumes in the Port of Long Beach, the second busiest port in the US, which saw a 2.4% reduction in its TEUs handled through October 2019, compared to the same month last year.
As the trade war lingers, these tariffs continue to impact the US economy and have created uncertainty for the business of importers and exporters. We are hopeful for a prompt resolution of the tariff situation between the US and China. In the meantime, we are moving forward with capital improvements that should bring long-term growth,
…said Mario Cordero, Executive Director of the Port of Long Beach.
Despite tariffs which continue to affect cargo volumes, the handling of the 688,425 TEUs last month marked the second-busiest October in the port’s 108-year history.
Meanwhile, imports dipped 7.4 % to 337,062 TEUs, while exports jumped 9.8 % to 131,635 TEUs.
Empty containers delivered overseas to be filled with goods decreased 0.8% to 219,728 TEUs.
The Port moved 6,366,787 TEUs during the first 10 months of 2019, 5.4% down from last year’s record-setting pace.
The port also saw a 2.3% decrease in August volumes compared to August 2018, handling a total of 663,992 TEUs.
Our facilities, longshore labor, marine terminal operators and all of our industry partners continue to make this the premier gateway for trans-Pacific goods movement. We will continue to rely on our reputation of moving cargo quickly, reliably and sustainably while providing outstanding customer service,
…said Long Beach Harbor Commission President Bonnie Lowenthal.
The Port of Long Beach generates approximately US$100 billion in trade and employs more than 316,000 people in Southern California.
In September, the US West Coast’s six largest ports, including the Port of Long Beach, Port of Los Angeles, Port of Oakland, Port of Portland, Port of Seattle and Port of Tacoma, sent a letter to US President Donald Trump alerting about the impacts of the trade war between the US and China, adding that the escalating tension will affect ports’ economies, workers, residents and international partnerships.
In early 2019, Eurasia ranked the US-China tensions at the second place of the top risks the world would encounter in 2019.
