Hanjin Still Hurts Long Beach, but Other Ports Post Strong October Results
October numbers continue to show strong growth at most major U.S. ports, except for the Port of Long Beach, California, which continues to suffer from the Hanjin Shipping Co. bankruptcy.
Long Beach, which ranks No. 2 in the country based on container volume, suffered a 6.2% drop to 581,808 industry-standard 20-foot container units, or TEUs, compared with one year ago. The number of loaded imports handled fell 3.7% to 296,711, while loaded exports declined 1.2% to 126,770 year-over-year.
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Port officials said the Hanjin bankruptcy continues to be a major drag on overall imports and exports because the shipping line accounted for approximately 12.3% of the total containerized volume. They added that it also has been difficult to match 2015 output because last October was the best in the previous eight year and came during six consecutive months of cargo growth to end the year. Through October, total volume for 2016 was down 4.8% to 5.7 million TEUs compared with the same period in 2015.
On the other hand, the Port of Los Angeles, which didn’t have significant Hanjin business, reported the busiest month ever in the Western Hemisphere, according to data from the American Association of Port Authorities. In total, the port handled 814,574 TEUs, eclipsing the record of 800,063 in October 2006.
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The Port of Oakland, California, posted a strong month with a 7.2% jump in total container traffic to 206,170 versus one year ago. Loaded exports, which account for about 52% of the port traffic, reached a three-year high in October, soaring 20% to 89,473. Loaded imported cargo volume increased 2% year-over-year to 72,085.
“Increased export volume is nothing new — we’ve reported gains in nine of the first 10 months of the year,” Port of Oakland Maritime Director John Driscoll said. “But the amount of volume growth highlights just how strong this rally is.”
Through October, the port has handled 1.97 million TEUs, a 3.9% improvement on the same time period in 2015.
The Port of Houston, which ranks No. 10, also posted a strong October, with total container volume up 7.9% to 184,255 TEUs.
