The ports of Los Angeles and Long Beach suffered a dramatic downturn in February. The two ports recorded one of their worst months ever, handling 487,846 and 543,675 TEUs respectively, -43.1% and -31.7% year-on-year.
Los Angeles imported 249,407 TEUs, -41% on a yearly basis, and exported 82,404 TEUs, or 14% less. Empty containers totaled 156,035 TEUs (-54%).
“February declines were exacerbated by an overall slowdown in global trade, extended Lunar New Year holiday closures in Asia, and overstocked warehouses,” said Gene Seroka, executive director of the Port of Los Angeles. “While we expect more cargo moving crossing our docks in March, volume will likely remain lighter than average in the first half of 2023″.
Long Beach handled 254,970 TEUs in imports (-34.7%) and 110,919 TEUs in exports (-5.9%). Overall, empty containers were 177,787 TEUs (-38.3%).
“Trade continues to normalize following the record-breaking cargo numbers we saw at the start of last year,” said Mario Cordero, executive director of the Port of Long Beach. “We are investing in infrastructure projects which will keep us competitive.”
Translation by Giles Foster