-
Port of Long Beach reports high cargo volume in May
-
May was the second busiest month on record, and its strongest month so far in 2022
-
A total 890,989 twenty-foot equivalent units (TEUs) were processed in May, a 1.8% decline year-on-year
-
Summertime surge could follow China’s post-pandemic recovery
-
4,172,366 TEUs were moved at the Long Beach port during the first five months of 2022, a 3.5% increase from the same period in 2021
-
Container dwell fees are on hold at Long Beach and Los Angeles ports
-
Both ports in San Pedro Bay have seen a 40% decline in aging cargo on the docks since program was announced on October 25, 2021
The Port of Long Beach reported its strongest month for cargo volume in May 2022, which is also the second busiest month on record. This is despite the 1.8% year-on-year decline on volumes processed at 890,989 twenty-foot equivalent units (TEUs).
May 2021 remained the port’s busiest month in its 111-year history.
Imports decreased 1.7% to 436,977 TEUs and exports were down 12.6% to 118,234 TEUs. Empty containers moved through the port increased 2.6% to 335,778 TEUs.
“We are moving an extraordinary amount of cargo and continue to work with industry partners to quickly move imports and empties off the docks,” said Port of Long Beach executive director Mario Cordero in a statement. “Looking ahead, we are ready for the traditional summertime surge to coincide with China’s recovery from a lengthy lockdown.”
A cargo influx is anticipated as pandemic-induced shutdowns are lifted in China. Strong income gains and a large savings cushion are anticipated to support consumer spending this year, despite the ongoing risks of inflation, the war in Ukraine and the recent lockdown in China. Demand for workers remains strong, with the addition of 6.6 million jobs reported nationwide over the past year. Increases in core durable goods shipments suggest business investment continues to progress at a steady clip.
“We appreciate the hardworking people who quickly process cargo and make the Port of Long Beach a leader in trans-Pacific trade,” said Long Beach Harbor Commission president Steven Neal. “We are collaborating with federal, state, local and industry stakeholders to find long-term solutions that will satisfy consumer demand and increase efficiency at the port.”
The port has moved 4,172,366 TEUs during the first five months of 2022, a 3.5% increase from the same period in 2021.
Meanwhile, Long Beach port has withheld the start of a container dwell fee that would charge ocean carriers for containers that remain too long on the docks. Both ports in Long Beach and Los Angeles ports in San Pedro Bay have seen a 40% decline in aging cargo on the docks since the program was announced on October 25, 2021.
