Last month Port of Long Beach cargo volumes were down as compared from the previous July, where the number of containers moved through the harbor neared 700,000 twenty-foot equivalent units (TEUs). In the July 2019, the total was 621,780 TEUs, which was 9.7% less as compared to last year. There is a decrease of 9.9% to 313,350 TEUs in imports, and exports shrank 6.8% to 111,654 TEUs. Empties were 11% lower, at 196,777 TEUs.
“The trade war is hitting the West Coast hard,” said Port of Long Beach Executive Director Mario Cordero. “For more than a year, the supply chain has bent under the weight, and there’s very little give left. If the tariffs continue and escalate as planned next month, American consumers could see higher prices during the holiday season as businesses pass along their costs.”
About more than 4.3 million TEUs have moved through the Port’s terminals through July,which is 7.2% fewer than at the same point last year.
Reference: polb.com
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