The Port of Long Beach announced Tuesday that cargo operations slowed in February thanks to a combination of full warehouses, reduced consumer spending and the closure of east Asian factories for the Lunar New Year.
Terminal operators moved 543,675 twenty-foot equivalent units in February, a 31.7% drop from February 2020, which was the port’s busiest February on record. Imports fell last month to 254,970 twenty-foot equivalent units, a 34.7% drop from last February, while exports fell 5.9% to 110,919 TEUs, according to the port.
“Trade continues to normalize following the record-braking cargo numbers we saw at the start of last year,” Mario Cordero, executive director of the Port of Long Beach, said in a statement. “We are investing in infrastructure projects that will keep us competitive as we collaborate with industry stakeholders to focus on trade volume.”
Empty containers moving through the port declined 38.3% in February to 177,787 TEUs, compared to the same month a year ago.
Trade typically slows in February due to the Lunar New Year, during which Asian factories often close for up to two weeks, port officials said.