Port of Long Beach reports May volume declines

May volume trended down at the Port of Long Beach (POLB), according to data issued by the port this week.

Total May volume, at 639,160 TEU (Twenty-Foot Equivalent Units), fell 8.2% annually, reported POLB. Imports, at 299,116, fell 13.4% annually, and exports, at 82,149 TEU, were off 18.6%. Empty containers saw a 3.2% annual increase, to 257,895 TEU.

Through the first five months of 2024, POLB reported that total volume, at 4,042,228 TEU, is up 17.2% annually.

“We remain cautiously optimistic that import cargo will rebound at the end of June and into July just in time for the peak shipping season, when retailers stock the shelves with back-to-school supplies and begin preparations for the winter holidays,” said Port of Long Beach CEO Mario Cordero. “While uncertainty remains for the business sector, the Port of Long Beach is continuing to invest in rail and terminal improvements to move cargo efficiently, safely and sustainably.”

While Cordero was optimistic about am import cargo rebound later this month and into next month, whether or not that happens remains to be seen.

That was made clear in the most recent edition of the Port Tracker report issued by the National Retail Federation and maritime consultancy Hackett Associates, which estimated that total U.S.-bond imports will decline 6.2% annually in June and 8.1% in July.

“Our projections show that May saw a significant reduction in imports as shippers responded to the higher tariff environment,” wrote Hackett Associates Founder Ben Hackett in the report. “This resulted in a significant reduction in shipping capacity. However, tariff reductions will lead to a surge in imports in June through August as importers take advantage of the various 90-day pauses (most nations see their pause end at 12:01am EDT on July 9, while the pause for China extends into August). The peak for the winter holidays will come early this year, making it simultaneous with the peak for the back-to-school season. If higher tariffs are not delayed again, we can expect the final four months of the year to see declining volumes of imports.”