Cargo moving through the Port of Long Beach has eased up once more in October, following reduced consumer demand and a shift of imported goods toward the Gulf and East coasts.
The news follows a continuous negative trend for the port, as last month Long Beach reported a decline in cargo.
The port moved 658,428 TEU last month, a 16.6 per cent decline from October 2021.
Imports were down 23.7 per cent to 293,924 TEU and exports decreased 2 per cent to 119,763 TEU.
Empty containers moved through the port fell 13.4 per cent to 244,743 TEU.
In the first 10 months of 2022, the Port of Long Beach has moved 8,000,811 TEU, up 1.5 per cent from the same period in 2021.
“The supply chain is returning back to normal, and cargo continues to move, so I am optimistic that store shelves will be stocked, and goods will be available for delivery during the holiday season,” said Port of Long Beach Executive Director Mario Cordero.
“Over the long term, the San Pedro Bay ports complex will continue to be a competitive, strategic and sustainable gateway for trans-Pacific trade.”
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“We continue to collaborate with our industry and workforce partners to ensure the safe, sustainable and reliable delivery of goods moving through the Port,” said Long Beach Harbor Commission President Sharon L. Weissman.
“The Port of Long Beach has a lengthy history of adapting to the needs of our customers during the best of times and the most difficult of times.”
Despite surging inflation and interest rates, the port authority remains optimistic as economists predict softening consumer activity will lead to a better balance between supply and demand and reduce stress on the national supply chain.
The news comes as the USDOT announced more than $703 million to fund 41 projects to improve port facilities.
