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Business Jul 13, 2023
The Port of Long Beach. | Photo courtesy of Charles Csavossy/U.S. Customs and Border Protection/Wikimedia Commons (CC0)
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Officials from the Port of Long Beach announced Thursday that trade moving through the port slowed down in June as retailers continued to clear warehouses.
Dockworkers and terminal operators moved 597,076 twenty-foot equivalent units, or TEUs, last month, which represented a 38.5% decline from June 2022 — the port’s busiest June on record.
Officials reported that imports were down by 274,325 TEUs, or 34%, while exports also declined 18% to 94,508 TEUs. Empty containers moving through the port decreased 25% to 228,243 TEUs.
“We are hopeful to obtain a greater percentile of market share,” Mario Cordero, CEO of the Port of Long Beach, said in a statement. “We remain confident that our reliability, efficiency and unparalleled service will attract additional trade and economic activity to our port.”
Economists report that consumer spending exceeded expectations during the first half of 2023 and may flatten out through the rest of the year, according to a statement from port officials.
The port moved approximately 3.7 million TEUs during the first half of 2023, which is down 25.5% from the same period last year.
“We continue to work with our industry partners to grow cargo volume and raise the bar on sustainable operations,” Sharon Weissman, president of the Long Beach Harbor Commission, said in a statement.
“Our highly skilled workforce, infrastructure projects and environmental programs continue to make us the ‘Port of Choice,'” she added.
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