16 November 2023 (Lloyd's List) - PORT of Long Beach says shippers’ preparations for the holiday period and the ports’ effort to recapture market share in the wake of the ILWU-PMA labour dispute helped propel its second consecutive month of year-on-year volume gains.
The port handled 755,150 teu in October, a 14.7% increase from the year-earlier period when post-pandemic cargo losses were accelerating, but also 9.7% above pre-pandemic 2019 levels. Imports increased 23.6% year on year and 7.8% from the same interval in 2019.
“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,” the port’s chief executive Mario Cordero said in a statement.
“We are anticipating moderate growth through the rest of the year as retailers continue to stock shelves for the winter holidays.”
The adjacent port of Los Angeles typically leads Long Beach in volumes but fell behind last month. It is set to release its figures on Friday, which will provide a more complete picture of the state of trade in the San Pedro Bay.
In September, combined volumes across both ports rose for the first time this year compared with the same period last year and the identical stretch in 2019. Both port chiefs credited some of the growth to the return of some cargo that shifted to east and US Gulf coast ports.
In an earnings call, Israeli carrier Zim said renewed demand for ocean transportation from South China to Los Angeles was partly behind its decision to reinstate its expeditated service on that route.
The National Retail Federation and Hackett Associates forecast that key US ports will see a fall in import volumes from September to October when final figures are compiled.
But a report from logistics and software provider Descartes observed that October imports across all US ports rose sequentially, based on preliminary figures from the US Customs and Border Protection.
Descartes also reported that October import volumes grew sequentially in major east and US Gulf coast ports, while falling in major west coast ports.
