LA up 7.8pc as Long Beach falls 16.6pc in May box numbers tally
VOLUMES at the Port of Los Angeles (POLA) and the Port of Long Beach(POLB) were mixed in May, according to data issued by the two ports
VOLUMES at the Port of Los Angeles (POLA) and the Port of Long Beach(POLB) were mixed in May, according to data issued by the two ports.
Total LA volume rose 7.8 per cent year on year to 828,662 TEU. Meanwhile, Long Beach volume fell 16.6 per cent to 573,623 TEU.
LA imports were up 5.5 per cent to 427,789 TEU while exports fell 0.8 per cent to 167,357 TEU and empties came in at 233,515 TEU, up 20 per cent.
Long Beach imports decreased 19.5 per cent to 290,568 TEU. Exports declined 15.3 per cent to 120,577 TEU, and empties came in at 162,479 TEU down 11.7 per cent.
Said LA port executive director Gene Seroka: 'I'm extremely pleased with another record month of throughput. We're closely monitoring global trade tensions that have created heightened unpredictability.'
Said Long Beach port executive director Mario Cordero: 'We are hopeful Washington and Beijing can resolve their differences before we see long-term changes to the supply chain that impact jobs in both nations.'
KeyBanc Capital Markets analyst Todd Fowler wrote in a research note that May LA and Long Beach volumes were below seasonal variations and likely reflected the lingering effects of inventory pull forward, as well as ongoing trade discord.
'While potentially having modest negative implications for near-term freight volumes, softer imports could help reduce inventories into 2H19/2020.'