By Karen Robes Meeks
The Port of Long Beach is on the way to a record year for the second consecutive year.
Long Beach moved 621,835 TEUs last month, 1.5 percent higher than November 2017, adding to the port’s 2018 tally of 7,349,377 TEUs. With volumes up 7.3 percent for the year, officials predict that the numbers will surpass last year’s record of 7,544,507 TEUs.
“American retailers are stocking up on goods made in China to avoid anticipated higher tariffs,” said Port Executive Director Mario Cordero. “You’re seeing the opposite effect on the other side of the ocean. Chinese businesses seem to be already looking to other countries for goods and raw materials, meaning there’s less demand for American exports and more empty containers are being shipped.”
Imports last month were also up 0.2 percent to 319,877 TEUs from the same period last year while exports fell 8.4 percent to 115,774 TEUs year over year.
“Business has been good in 2018, and we appreciate our customers for choosing the Port of Long Beach,” said Long Beach Harbor Commission President Tracy Egoscue. “While the new year may bring challenges, we remain hopeful that trade will grow, bringing more jobs and economic opportunity to this region.”
