Trade War Pushes Port of Long Beach Towards New Cargo Record

Cargo volume at the Port of Long Beach continued to rise in November, setting the stage for a second consecutive calendar year record. The Port handled 621,835 twenty-foot equivalent units (TEUs) of container cargo during the month, a 1.5 percent increase compared to November 2017. Last month’s performance pushed 2018’s total TEU count to 7,349,377, making it virtually … [Read more...]

Blackstone, KKR Said to Pursue $1 Billion Container Terminal in Long Beach

By Gillian Tan and Vinicy Chan (Bloomberg) -- Cosco Shipping Holdings Co.’s sale of a container terminal in Long Beach, California has drawn interest from potential buyers including Blackstone Group LP and KKR & Co., people familiar with the matter said. EQT Partners and an arm of Macquarie Group Ltd. have also been studying a deal for the asset, the people said, asking … [Read more...]

Port of Long Beach Tops 8 Million TEU in FY2018

The Port of Long Beach closed out its 2018 fiscal year having handled 8,000,929 twenty-foot equivalent units (TEUs) during the previous 12 months. This figure represents a new annual record and is 10.7 percent increase over fiscal year 2017. “We are poised to break our calendar year record at the end of December,” said Port of Long Beach Executive Director Mario Cordero. … [Read more...]

Port of Long Beach Cargo Volume Dips in August

Container volumes at the Port of Long Beach fell 1.9 percent in August compared to 2017 figures amid the backdrop of uncertainty surrounding the U.S.-China trade war. The Port of Long Beach, the second largest container port in the United States behind neighboring Los Angeles, reported last week a total of 679,543 twenty-foot equivalent units (TEUs) were moved through the … [Read more...]

Port of Long Beach Container Volumes Dip in July

The Port of Long Beach saw a decline in container volumes in July compared to the same month a year ago, which hit a historic high that has since been surpassed. The drop, 4.4 percent, was attributed to shipping alliances’ decisions in July to shift vessel deployment and port calls. Port officials also raised concerns that escalating tariffs could slow trade activity — thus … [Read more...]