Port of Long Beach Reports Slower Trade in February

Aerial Port of Long Beach Container Yard

Photo: Getty Images

LONG BEACH (CNS) - The Port of Long Beach announced Tuesday that cargo operations slowed in February thanks to a combination of full warehouses, reduced consumer spending and the closure of east Asian factories for the Lunar New Year.

Terminal operators moved 543,675 twenty-foot equivalent units in February, a 31.7% drop from February 2020, which was the port's busiest February on record. Imports fell last month to 254,970 twenty-foot equivalent units, a 34.7% drop from last February, while exports fell 5.9% to 110,919 TEUs, according to the port.

"Trade continues to normalize following the record-braking cargo numbers we saw at the start of last year," Mario Cordero, executive director of the Port of Long Beach, said in a statement. "We are investing in infrastructure projects that will keep us competitive as we collaborate with industry stakeholders to focus on trade volume."

Empty containers moving through the port declined 38.3% in February to 177,787 TEUs, compared to the same month a year ago.

Trade typically slows in February due to the Lunar New Year, during which Asian factories often close for up to two weeks, port officials said.

Copyright 2023, City News Service, Inc.

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