Port of Long BeachThe Port of Long Beach had a record-breaking year in 2017. With nearly record-breaking numbers each month, the port closed the year with an 11% increase in cargo volumes last year, resulting in the busiest year in port history. In total, the port moved 7.54 million twenty-foot equivalent units of cargo. We sat down with Lee Peterson of the Port of Long Beach to talk about the increase in cargo volumes, what drove the activity and what we can expect for 2018.

GlobeSt.com: What do you think drove the unprecedented activity last year?

Lee Peterson: Trade between the U.S. and other countries was on the upswing last year, resulting in gains for many North American seaports. Given changes in the structure of ocean carrier alliances as well as the increasing size of cargo ships, the Port of Long Beach Trade was well-positioned to receive a great deal of that increasing trade. We are well-positioned because of improvements to our facilities and the experience of our terminal operators and other partners such as trucking firms and railroads, in dealing with the new landscape of international shipping.

GlobeSt.com: Despite the phenomenal activity this year, are there any areas where port activity fell short?

Peterson: We saw an amazing turnaround at our Pier T facility, operated by Total Terminals International in 2017, so we cannot see that as a downside. In the year after the Hanjin bankruptcy (Aug. 31, 2016), Pier T has been busier than ever, and was our busiest terminal in 2017. That was a major upside for us. But to get to your question, we saw improvement port-wide in truck turn times, and in the coming years, we hope to continue reducing those turn times.

GlobeSt.com: You anticipated a strong year. How did the numbers stack up against your initial expectations, and what are your expectations for 2018?

Peterson: We had expected that the year would be very busy and among our top volume years, so the results were in line with those expectations. We're expecting modest growth for 2018, which on top of our busiest year ever, would be quite welcome. Trade overall for the U.S. is expected to increase by about 2 percent.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.