Diminishing consumer demand, full warehouses and inflation concerns led to a decline in cargo containers moved through the Port of Long Beach in September 2022.
Dockworkers and terminal operators moved 741,823 twenty-foot equivalent units (TEUs) of cargo containers last month, down 0.9% from September 2021. Imports decreased 7.4% to 342,671 TEUs, while exports increased 1.9% to 112,940 TEUs. Empty containers moved through the Port rose 7% to 286,212 TEUs.
Consumers and retailers concerned about inflation
“Consumers and retailers are concerned about inflation, leading to warehouses filled with inventory and fewer product orders from Asia,” said Port of Long Beach’s Executive Director, Mario Cordero
Mario Cordero adds, “The respite is leading to increased capacity on the docks and fewer ships waiting off the coast to enter the Port.”
Transporting cargo quickly, reliably and sustainably
We’re hoping to close the year on a positive note that focuses on our efforts to improve cargo flow"
“We appreciate our long-shore labour, marine terminal operators, truckers and all of our other industry partners, who continue to move cargo quickly, reliably and sustainably,” said Long Beach Harbor Commission’s President, Sharon L. Weissman.
Sharon L. Weissman adds, “We’re hoping to close the year on a positive note that focuses on our efforts to improve cargo flow, while dramatically enhancing air quality.”
Consumers more cautious with spending
Consumers are growing more cautious with spending, as the economy faces persistent inflation and aggressive tightening by the Federal Reserve.
The Port of Long Beach has moved 7,342,383 TEUs during the first nine months of 2022, up 3.5% from the same period in 2021. Additionally, the Port of Long Beach processed 2,334,605 TEUs between July 1 and Sept 30, 2022, down 0.3% from the third quarter of 2021.
