Suez Canal Head Says Egypt Studying Further Expansion of Waterway
CAIRO, March 4 (Reuters) – Egypt is studying further expansions of the Suez Canal to extend and complete a second channel of the waterway, the canal’s head said on Monday, a move...
Imports at the Port of Long Beach fell for a third consecutive month in September as diminishing consumer demand, full warehouses and inflation concerns led to a decline in containers moving through the port.
Dockworkers and terminal operators moved 741,823 TEUs of cargo containers last month, down 0.9% from September 2021.
September imports decreased 7.4% compared to September 2021, to 342,671 TEUs, while exports increased 1.9% to 112,940 TEUs. The last month the Port of Long Beach saw imports growth was in June.
“Consumers and retailers are concerned about inflation, leading to warehouses filled with inventory and fewer product orders from Asia,” said Port of Long Beach Executive Director Mario Cordero. “The respite is leading to increased capacity on the docks and fewer ships waiting off the coast to enter the Port.”
Year-to-date paints a different picture following a red-hot first half. The Port of Long Beach has now moved 7,342,383 TEUs during the first nine months of 2022, up 3.5% from the same period in 2021. Looking at the third quarter, Long Beach processed 2,334,605 TEUs, down 0.3% from the third quarter of 2021.
“We appreciate our longshore labor, marine terminal operators, truckers and all of our other industry partners who continue to move cargo quickly, reliably and sustainably,” said Long Beach Harbor Commission President Sharon L. Weissman. “We’re hoping to close the year on a positive note that focuses on our efforts to improve cargo flow while dramatically enhancing air quality.”
Dive into a sea of information with our meticulously curated weekly “Dispatch” email. It’s more than just a newsletter; it’s your personal maritime briefing.
Join the 104,590 members that receive our newsletter.
Have a news tip? Let us know.
Be Informed: Stay updated with the latest maritime news and trends.
Connect: Network with a community of maritime professionals and enthusiasts.
Gain Insights: Receive exclusive content and personal perspectives from our CEO.Sign Up
Maritime and offshore news trusted by our 104,590 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.Sign Up