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11/15/2022
The Port of Long Beach reported a slowdown in cargo movement in October following reduced consumer demand and a shift of imported goods from the West Coast to the East Coast and Gulf of Mexico.
The port moved 658,428 20-foot equivalent units (TEUs) last month, down 16.6% from October 2021. Imports were down 23.7% at 293,924 TEUs, while exports were down 2% at 119,763 TEUs, port officials said in a press release.
Empty containers moving through the port also decreased 13.4% to 244,743 TEUs.
During the first 10 months of 2022, the port has moved just over 8 million TEUs, up 1.5% compared to the same period in 2021, officials said.
Despite inflation and rising interest rates, softening consumer activity will lead to a better balance between supply and demand, which will reduce stress on the national supply chain, port officials said.
Pacific Harbor Line Inc., a property of Anacostia Rail Holdings Co., provides freight movement, on-dock switching and dispatching services at the port and offers connections to BNSF Railway Co. and Union Pacific Railroad.