With August volume up 11.3% year-on-year Long Beach expects to see continued growth into 2022.
The Port of Long Beach reports that the “peak shipping season started with a roar and lifted the Port of Long Beach to its strongest August on record”.
The port handled 807,704 TEU in August, up 11.7% year-on-year. Imports were up 11.7% to 407,426 TEU and exports decreased 5.3% to 119,485 TEU. Empty containers moved through the Port rose 19.7% to 280,794 TEU.
“It’s peak season now, but we’re likely to see continued cargo growth well into 2022,” said Mario Cordero, Executive Director of the Port of Long Beach. “In order to stay on top of this cargo, ports will need to adapt. We will need to find the long-term solutions that will satisfy consumer demand, increase efficiency at the ports and reduce costs for our customers.”
Peak season normally runs from August to October, but this year ports are expecting it to run into the peak before Chinese New Year in 2022. “Although consumer demand softened slightly from a month earlier, overall retail sales in August were roughly 18% above pre-pandemic levels,” the port said. Retail inventories are growing, but at US$599 billion at the end of June 2021 were still down on the US$661 billion level held in January 2019, indicating high levels of inventory building can be expected for some time yet.