CARGO VOLUME STILL DOWN FROM 2022, BUT TRENDING UP
The Port of Long Beach in May reached its strongest month so far in 2023, raising mid-year hopes of a trend of increasing volume.
Dockworkers and terminal operators moved 758,225 twenty-foot equivalent units (TEUs) last month, down 14.9% from May 2022. Imports decreased 17.2% to 361,661 TEUs and exports increased 8.1% to 127,870 TEUs. Empty containers moved through the Port declined 20% to 268,695 TEUs.
Cargo throughput in May was up 15.6% from April, which was 8.6% more than March. Although trade declined 14.9% for May year-over-year, cargo moved through the Port was down 20.1% year-over-year in April and 30% in March.
“At mid-year we’re starting to see signs that cargo volume is on the upswing, with our busiest month since August of last year,” said Port of Long Beach Chief Executive Officer Mario Cordero. “We look forward to more positive signs in the months ahead.”
“Over the long term, the San Pedro Bay ports complex will continue to be a strategic and sustainable gateway for trans-Pacific trade,” said Long Beach Harbor Commission President Sharon L. Weissman. “We will work with our industry partners to recapture and grow market share in this increasingly competitive environment.”
The Port has moved 3,135,600 TEUs during the first five months of 2023, a 24.8% decrease from the same period in 2022. Loaded imports are down 28% to 1,472,626 TEUs, while loaded exports are up 0.9% to 600,586 TEUs.