Port's Container Volume Lower in October
Traffic was down 20.5 percent compared to last year
November 17, 2011
Container trade volume at the Port of Long Beach dropped 20.5 percent in October compared to the same period a year ago. Imports were down 20.8 percent, and exports dipped 21.4 percent.
Port terminals handled 487,665 twenty-foot equivalent container units last month, compared to 613,621 TEUs in October 2010. This was the largest percentage drop so far this year comparing same monthly periods from a year ago, and it represents the fourth straight month of decline.
A portion of the decline in traffic was attributable to the departure of California United Terminals, which vacated one of the Port's seven container terminals last year. CUT accounted for roughly a tenth of the Port's overall container traffic.
After experiencing record gains in 2010 and continued growth in the earlier part of the year, imports are down 2 percent and exports are down 1 percent for calendar year to date. Despite signs that consumer demand is rebounding across the nation, retailers appear to have taken a cautious approach for the upcoming holiday season.
For October, import containers accounted for 240,248 TEUs compared to 303,168 TEUs in the same period last year. Export containers hit 118,325 TEUs compared to 150,581 TEUs in October 2010. Empty container moves also were down. The Port moved 129,092 TEUs of empty containers in October, down 19.3 percent compared to the same period last year. Most empty containers are bound overseas.
For the latest monthly cargo numbers click here.
For more details on the cargo numbers visit www.polb.com/stats.