Trade flowing through the Port of Long Beach saw a rise in January, driven by retailers’ efforts to replenish stocks ahead of the Lunar New Year, a period when many factories in East Asia shut down for approximately two weeks.
In January, dockworkers and terminal operators handled a total of 674,015 TEUs, marking a 17.5% increase compared to January 2023.
Import volumes surged by 23.5% to reach 325,339 TEUs, while exports experienced a decline of 18.1% to 86,525 TEUs.
Furthermore, the movement of empty containers through the Calfiornian port witnessed a notable increase of 28% to reach 262,151 TEUs.
“Retailers stocked their warehouses in January ahead of the slower import activity we typically see during Lunar New Year celebrations. We are ready to grow our volumes and hope to see continued growth through 2024 as we gradually recapture market share,” commented Mario Cordero, CEO of Port of Long Beach.
The strong start to 2024 marks the fifth consecutive monthly year-over-year increase following 13 months of declines in cargo movement at the Port.
“The waterfront workforce and terminal operators are energizing the economy by keeping the goods moving at the Port of Long Beach. We’re staying the course by attracting business, operating sustainably and developing projects that will ensure our long-term growth,” commented Bobby Olvera Jr., president of the Long Beach Harbor Commission.
