Lunar New Year Impacts Trade at Port of Long Beach
A lull in shipping connected to Lunar New Year and a record-shattering month a year ago combined to drive February cargo numbers down at the Port of Long Beach. The result was still the second-busiest February in the Port’s 108-year history.
“Overall, our volumes have increased and cargo flow has become more consistent as retailers constantly replenish inventory in the e-commerce economy,” said Port of Long Beach Executive Director Mario Cordero. “Last year set high standards. We had our busiest months and year ever, but we are still expecting modest growth in 2019.”
“Lunar New Year was earlier this year, shrinking shipments for most of February,” said Long Beach Harbor Commission President Tracy Egoscue. “We’re preparing for busier months ahead, and will work with all of our supply chain partners this year to deliver efficient, fast service for our customers as they adjust to market changes.”
Terminals moved 596,616 twenty-foot equivalent units (TEUs) last month, a 9.8 percent decrease compared to February 2018. Imports dropped 11.5 percent to 302,865 TEUs, while exports declined 19.6 percent, to 105,287 TEUs. Empty TEUs were flat at 188,465, 0.1 percent lower.
Source: Port of Long Beach