Cargo throughput in July for the Port of Los Angeles (POLA) and the Port of Long Beach (POLB) both declined, according to recent reports by each port.
Accordingly, the total volume of POLA stood at 684,291 TEUs (20 Foot Equivalent Units), down 26.85% per year from the July 2022 record of 935,423 TEUs. The July tally was about 18% lower than June's 833,045 TEUs, marking the highest volume month since July 2022, an "all-time" record month for POLA.
POLA's imports fell 25% year-on-year, to 364,208 TEUs, and exports stood at 110,372 TEUs, up 6%. Empty containers decreased by 39%/year, to 209,710 TEU, as demand for empty containers in Asia continued to decline. Year-to-date through July, total POLA volumes fell 24% year-over-year, reaching 4,821,670 TEUs.
"Global trade has eased as inventories at retailers and manufacturers remain elevated," Port of Los Angeles CEO Gene Seroka said in a statement. “American consumers are continuing to spend and will likely find more discounted items this year as we head into fall fashion and the holiday season.”
The Port of Long Beach (POLB) reported that total throughput reached 578,249 TEUs, down 26.4% year-on-year from July 2022, POLB said July had its highest throughput on record.
Imports fell 27.9% to 271,086 TEUs and exports fell 17.6% to 90,134 TEUs, of which empty containers fell 27.7% to 217,030 TEUs. During the first seven months of 2023, POLB volumes fell by 25.6%, to 4,310,925 TEUs year-on-year.
POLB officials cited adjusted trade routes, adequate warehouses and a shift in consumer spending toward travel, entertainment and other experiences as reasons for the month's sales. 7 decrease.
“I am confident we will see our numbers improve as we work with industry partners to rebuild our market share,” said Port of Long Beach CEO Mario Cordero. ". “Looking ahead, however, we anticipate a modest 'peak season' for shipping as consumers spend slightly less this year on back-to-school supplies and gifts in the coming year. during the holidays.”
On the afternoon of October 1, at the meeting on the socio-economic situation in the first 9 months of 2024, the Department of Planning and Investment of Ho Chi Minh City said that many economic indicators have grown steadily. Notably, export turnover is on a recovery trend and has grown.
In the first eight months of 2024, Vietnam earned nearly VND 4 trillion from tea exports, surpassing the total export revenue of last year.
Australia has made another stride in its agriculture sector by announcing an agreement to export plums to Vietnam in the near future, in addition to the current exports of peaches and nectarines. This project is part of a two-way agricultural market access agreement aimed at providing Australian plums to Vietnam and Vietnamese passion fruit to Australia.
Today marks a significant milestone for Glotrans: our 5-year anniversary as a valued member of the WWPC Logistics Network.
On behalf of the entire Glotrans team, we would like to extend our warmest wishes to you and your loved ones for a prosperous, healthy, and joyful Lunar New Year 2025.
Dear Customers and Partners, Glotrans would like to announce the 2025 Lunar New Year holiday schedule as follows: Holiday: From January 25, 2025 (Saturday) to February 2, 2025 (Sunday) Back to work: February 3, 2025 (Monday)
