September Cargo Volumes Flat, But Up for the Year

Cargo volumes are continuing to fall at the Port of Long Beach. For three consecutive months cargo volumes have either declined or remained flat, and in September, cargo volumes remained relatively flat, down .1% year-over-year. The recent slip in cargo volumes is largely driven by ship carrier alliances. Despite the slowdown in recent months, however, the port closed its fiscal year up 10.7% over its fiscal year in 2017. The significant year-over-year increase positions the port to close 2018 with a record year, even with the cargo volume declines.

“The Port’s volumes are a reflection of the U.S. economy. That’s been strong, and the dollar is performing well,” Eric Bradley of the Port of Long Beach tells GlobeSt.com. “Americans have more spending power and their demand for goods means retailers are buying more. The tariffs exchanged by Washington and Beijing are another factor. Businesses anticipated the tariffs and stocked a lot of inventory earlier in the year.”

The Port of Long Beach has seen record-breaking cargo volumes for the last two years, and will likely see another record-breaking year in 2018. “Long Beach is a primary trade gateway for manufacturing in East Asia,” says Bradley. “The Port has broken its record for container movement two times in two years. We’re investing our revenues into our best-in-the-nation infrastructure to stay ahead of competition. We are confident the value we offer our customers will be attractive to them well into the future.”