Port Cargo Volumes Bounce Back in October
Imports were up 15.2 percent, exports up 12.8 percent
November 15, 2012
Giving a boost to the peak season when retailers typically stock up for holiday shoppers, container volumes at the Port of Long Beach rose in October, with imports up 15.2 percent.
Port terminals handled 276,698 twenty-foot equivalent container units (TEUs) of loaded inbound cargo last month compared to 240,248 TEUs in October 2011. For the period between August and October, imports were up 6 percent in 2012 at the Port of Long Beach compared to the same period last year.
Exports rose too, from 118,325 TEUs in October 2011 to 133,503 TEUs last month, an increase of 12.8 percent. Overall container volume at the Port rose by 8.7 percent last month compared to the same period a year ago. Empty container volumes declined by 7 percent from October 2011 to 120,112 TEUs. With imports exceeding exports, empty containers are sent overseas to be refilled with goods.
For the calendar year, overall container volumes at the Port are down 3.2 percent through October. Imports are down 2.2 percent and exports are flat compared to the same period a year ago.
The Port of Long Beach continues to invest long term. It is two years into a decade-long, $4.5 billion program to upgrade its facilities.
For the latest monthly cargo numbers click here.
For more details on the cargo numbers visit www.polb.com/stats.