Port of Long Beach Off to Strong Start in 2016
Cargo shipments on the Port of Long Beach had been up 6.1 % for the primary three months of 2016 in comparison with the identical interval final yr, beginning the yr off sturdy, the Port stated Thursday.
The quarter was the port’s finest since 2007, helped by huge good points in January and February. While March 2015 volumes soared 32 % over the identical month in 2014 as a result of distinctive restoration from cargo backlogs early final yr— March 2016’s container volumes had been down 26.2 %. Other components contributing to this March’s smaller month-to-month whole included the Lunar New Year, when many factories in East Asia shut down for one to 2 weeks.
“Overall, we are pleased with these results,” stated Port of Long Beach CEO Jon Slangerup. “The uneven global economy, industry financial pressures, weak U.S. export demand and the introduction of megasized container vessels to West Coast ports have created dynamic conditions for the maritime industry that will continue to play out over the coming year. Nevertheless, our value proposition, being the fastest and most cost-effective supply route from Asia to America’s consumer markets, continues to define Long Beach and Southern California as the multimodal gateway of choice for our shipping customers.”
In March, Long Beach marine terminals dealt with a complete of 464,855 twenty-foot equal items or TEUs, the business commonplace for measuring container cargo. Imports decreased 34.6 % to 207,635 TEUs and exports had been flat at 127,210 TEUs. Empty containers, that are despatched again abroad to be refilled with extra items, decreased 29.8 % to 130,010 TEUs.
“As the Green Port of the Future, Long Beach is committed to creating an even more efficient and environmentally sustainable supply chain,” stated Harbor Commission President Lori Ann Guzmán. “We’re confident that our Port will continue to attract cargo and meet the challenges brought by the new generation of megaships.”
With an ongoing $4 billion program to modernize its amenities this decade, the Port of Long Beach is investing in capital and repair enhancements that may deliver long-term inexperienced progress and preserve its compelling worth proposition.