Monday, June 5, 2023
HomeHeadlinesPort of Long Beach Maintains Steady Cargo Flow in June

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Port of Long Beach Maintains Steady Cargo Flow in June

Cargo moving through the Port of Long Beach remained strong in June as retail spending cooled down while consumers warmed up to summertime recreation and entertainment.

Dockworkers and terminal operators moved 724,297 twenty-foot equivalent units in June, up 20.3% from the same month last year. Imports rose 18.8% to 357,101 TEUs, while exports saw a relatively flat decrease of 0.5% to 116,947 TEUs. Empty containers moved through the Port jumped 36% to 250,249 TEUs.

“We anticipate e-commerce to drive much of our cargo movement through the rest of 2021 as retailers plan for a busy summer season,” said Mario Cordero, Executive Director of the Port of Long Beach. “However, June serves as an indicator that consumer demand for goods will gradually level off as the national economy continues to open up and services become more widely available.”

“We’re optimistic that this is shaping up to be one of our busiest years on record as we continue to overcome the challenges related to COVID-19,” said Long Beach Harbor Commission President Frank Colonna. “We will continue to collaborate with our waterfront workers and industry partners to move cargo quickly and efficiently through the supply chain during this time of ongoing economic recovery.”

Demand for household products, electronics and other goods rose as consumers returned to work following the COVID-19 pandemic and contributed to a 38.5% increase in cargo shipments at the Port of Long Beach during the first half of 2021 compared to the same period last year, with 4,753,828 TEUs processed. Second quarter throughput was 2,377,700 TEUs, up 35.8% from last year, marking the second-best quarter in the Port’s 110-year history.

Fewer cargo ships called at the Port of Long Beach in June compared to a month earlier due to shifting services and a COVID-19 outbreak at the Yantian port in China that resulted in some vessels delaying arrivals until July.

Rising prices drove down consumer spending for products in May, but overall national retail sales remained 18% higher than pre-pandemic levels. As states lifted most COVID-19 restrictions in June, consumers have pivoted to spending at restaurants, bars, travel and other services.

Related Posts

Video

Finance & Economy
Shipping News
Ports

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

CMA CGM Profit Eases as Container Transport Demand Wanes

CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx...

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Baltic index hits over 3-month low amid lower coal imports

The Baltic exchange’s main sea freight index extended losses for the 15th session straight...

Baltic index falls for the month as vessel demand wanes

The Baltic exchange’s main sea freight index recorded its first monthly decline in four...

North Korea missile tests endanger shipping, UN maritime agency told

North Korean missile tests are endangering the safety of commercial shipping in busy sea...

Singapore Clamps Down on Tankers as Dark Fleet Grows

Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...