The Port of Long Beach is making up for a lost 2016. After the Hanjin bankruptcy last year put a damper on cargo volumes. This year, with no lasting effects from the bankruptcy, the Port of Long Beach has seen increasing cargo volumes and is breaking records. In July, the port took this already phenomenal year to new heights, reporting the busiest month in the port's 106-year history. The title formerly belonged to August 2015.
“We've also gotten a boost from the new ocean carrier alliance structure, which is bringing more ships to the Port of Long Beach on a recurring basis,” Lee Peterson of the Port of Long Beach, tells GlobeSt.com. “You're seeing that consumers have more confidence and there is an upswing in the purchase of the goods that are flowing through this Port, such as furniture, apparel, electronics and more.”
The cargo volume is up 13.1% for month over July 2016 and is up 6.4% for the calendar year. The Port of Long Beach moved a total of 720,312 twenty-foot-equivalent units. The increase in imports volumes was maybe the most impressive. Imports have lagged at the port, but were up 16.3% for the month of July, also a record for the port. “With consumers buying more, we're definitely seeing stronger imports in the months heading into peak season,” says Peterson.
After the slowdown in 2016, there was some concern heading into the year that port volumes would suffer as a result of the Hanjin Bankruptcy, but the incredible cargo activity has suggested that there are no long-term losses. “We've see very high activity at the terminal where Hanjin once called,” says Peterson. “The MSC and Maersk lines, along with Hyundai Merchant Marine have been keeping that terminal very busy and erasing all notions that there would be lasting effects from the Hanjin bankruptcy.”
The port expected a strong increase in activity for the year, and as a result of the record-breaking July, the outlook for the remainder of the year is bright. “We expect to see the next several months outpace last year's final months as we continue to on a pace to have a very good year for the Port of Long Beach,” says Peterson.
The Port of Long Beach is making up for a lost 2016. After the Hanjin bankruptcy last year put a damper on cargo volumes. This year, with no lasting effects from the bankruptcy, the Port of Long Beach has seen increasing cargo volumes and is breaking records. In July, the port took this already phenomenal year to new heights, reporting the busiest month in the port's 106-year history. The title formerly belonged to August 2015.
“We've also gotten a boost from the new ocean carrier alliance structure, which is bringing more ships to the Port of Long Beach on a recurring basis,” Lee Peterson of the Port of Long Beach, tells GlobeSt.com. “You're seeing that consumers have more confidence and there is an upswing in the purchase of the goods that are flowing through this Port, such as furniture, apparel, electronics and more.”
The cargo volume is up 13.1% for month over July 2016 and is up 6.4% for the calendar year. The Port of Long Beach moved a total of 720,312 twenty-foot-equivalent units. The increase in imports volumes was maybe the most impressive. Imports have lagged at the port, but were up 16.3% for the month of July, also a record for the port. “With consumers buying more, we're definitely seeing stronger imports in the months heading into peak season,” says Peterson.
After the slowdown in 2016, there was some concern heading into the year that port volumes would suffer as a result of the Hanjin Bankruptcy, but the incredible cargo activity has suggested that there are no long-term losses. “We've see very high activity at the terminal where Hanjin once called,” says Peterson. “The MSC and Maersk lines, along with Hyundai Merchant Marine have been keeping that terminal very busy and erasing all notions that there would be lasting effects from the Hanjin bankruptcy.”
The port expected a strong increase in activity for the year, and as a result of the record-breaking July, the outlook for the remainder of the year is bright. “We expect to see the next several months outpace last year's final months as we continue to on a pace to have a very good year for the Port of Long Beach,” says Peterson.
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Kelsi Maree Borland
