Trade Growth Continues at Port of Long Beach

Cargo moving through the Port of Long Beach saw a significant increase in October, marking the second consecutive month of year-over-year growth. The port attributed the rise in cargo volume to preparations for the upcoming holiday shopping season and ongoing efforts to recapture market share.

Dockworkers and terminal operators at the Port of Long Beach handled a total of 755,150 twenty-foot equivalent units (TEUs) last month, reflecting a 14.7% increase compared to October 2022. Import volumes surged by 23.6% to reach 363,300 TEUs, while exports declined by 24.8% to 90,073 TEUs. Additionally, empty containers moving through the port saw a substantial growth of 23.3%, totaling 301,777 TEUs.

Overall cargo volume was down about 11% compared to the record 829,429 TEUs handled in September 2023, with volumes falling sequentially in all categories.

“Cargo is rebounding, and we are continuing to collaborate with our industry partners to recapture market share and invest in infrastructure that will position us for future growth,” said Port of Long Beach CEO Mario Cordero stated. “We are anticipating moderate growth through the rest of the year as retailers continue to stock shelves for the winter holidays.”

Year-to-date figures show that the Port of Long Beach has handled a total of 6,577,815 TEUs during the first 10 months of 2023, reflecting a 17.8% decrease compared to the same period last year. However, cargo flows this year have been on par with pre-pandemic levels, when the Port of Long Beach handled over 6.36 million TEUs through October 2019.

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