logo
Long Beach sees record TEUs on trade war effect

Long Beach sees record TEUs on trade war effect

Yahoo16-05-2025

The Port of Long Beach, California, marked its strongest April on record, handling 867,493 twenty-foot equivalent units, a 15.6% increase compared to the same month a year ago.
Volumes surpassed the previous record set in April 2022 by 5.7% at the hub. Imports rose significantly to 419,828 TEUs, representing a 15.1% increase y/y, while exports declined by 4.5% to 93,842 TEUs.
Empty containers saw the most dramatic change, jumping 23% to 353,824 TEUs, as demand for boxes moving out of Chinese ports dropped amid the de facto trade embargo. Carriers blanked dozens of eastbound trans-Pacific sailings and moved some ships to higher-volume trade lanes.
The April performance extends to 11 the number of consecutive months of cargo increases at the port, which along with Los Angeles makes up the San Pedro complex, the busiest U.S. import container gateway.Despite the record, the port is bracing for a substantial decline in cargo volume for May. Officials anticipate a significant drop in imports, primarily attributed to tariffs — and retaliatory tariffs — between China and the U.S. that were paused earlier this month.
Port of Long Beach Chief Executive Mario Cordero in a release said: 'After moving the most containerized cargo of any American port in the first quarter of 2025, we are now anticipating a more than 10% drop-off in imports in May – and the effects will be felt beyond the docks. Soon, consumers could find fewer choices and higher prices on store shelves and the job market could see impacts, given the continuing uncertainty.'
Year-to-date performance remains strong, with the port handling 3,403,069 TEUs during the first four months of 2025, a 23.6% increase from the same period in 2024. This overall growth provides some cushion against the expected May 'air pocket.'Find more articles by Stuart Chirls here.Hapag-Lloyd expects swift China ramp-up after bookings jump 50%
Tariff two-step: After pause, China-US container traffic increases
Maersk looks to fill up corridors in a flash (sale)
Pause and effect: Container rates await new demand
The post Long Beach sees record TEUs on trade war effect appeared first on FreightWaves.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Hong Kong rights group shuts down after years of advocating for workers
Hong Kong rights group shuts down after years of advocating for workers

Associated Press

time28 minutes ago

  • Associated Press

Hong Kong rights group shuts down after years of advocating for workers

HONG KONG (AP) — A Hong Kong group that advocated for workers rights for decades announced its shutdown abruptly on Thursday, citing financial difficulties and debt issues. China Labor Bulletin planned to stop updating its website content and appeared to have deleted Facebook and Instagram social media accounts used by the nonprofit rights organization. 'The company can no longer maintain operations and has decided to dissolve and initiate the relevant procedures,' it said in a statement on an archived web page Friday. Founded in 1994, organization maintained a database tracking workers' strikes, protests, workplace accidents and other labor rights incidents in China. As dozens of civil society groups disbanded or left Hong Kong in the wake of the 2020 Beijing-imposed national security law, China Labor Bulletin continued providing valuable resources for journalists and academics in the southern Chinese city. Critics say the drastic political changes in Hong Kong indicated the decline of Western-style civil liberties that China promised to keep intact when the former British colony returned to Chinese rule in 1997. However, Beijing and Hong Kong governments insisted the law was crucial to bring stability to the city following massive anti-government protests in 2019. China Labor Bulletin's founder Han Dongfang, a former railway worker who participated in the 1989 Tiananmen Square protests, did not immediately respond to a request for comment from The Associated Press. He told the Central News Agency of Taiwan that the shutdown was his decision and he would stay in Hong Kong. Han's decision appeared sudden to many Hong Kong civil society observers. Three weeks ago, he wrote on social media platform LinkedIn about his work anniversary and his team's progress. 'Let's keep our faith up at this abnormal time and continue our important work,' he said.

China solar industry to address overcapacity challenge but turnaround far off, experts say
China solar industry to address overcapacity challenge but turnaround far off, experts say

Yahoo

time31 minutes ago

  • Yahoo

China solar industry to address overcapacity challenge but turnaround far off, experts say

By Colleen Howe SHANGHAI (Reuters) -Solar manufacturing company heads in China, grappling with losses and tariffs on exports to the U.S., called for an end to a price war and a solution to overcapacity in the sector, but industry participants predict a slow turnaround. China's solar manufacturers have reported losses this year as U.S. President Donald Trump's trade war put further pressure on demand within the industry. Losses in the photovoltaic manufacturing value chain reached $40 billion last year, while for the industry as a whole - including firms' other business lines - totalled $60 billion, Trina Solar Chairman Gao Jifan said. The Chinese government and industry were working to address the overcapacity and breakneck competition that have pushed most major producers into the red, Gao told the SNEC PV+ Photovoltaic Power Conference and Exhibition in Shanghai this week. The National Development and Reform Commission (NDRC), China's state planner, held an online meeting in February calling for a ban on new production, Gao said, but new capacity has nevertheless been built in recent months. NDRC did not immediately respond to a faxed question on the matter. Zhu Gongshan, chairman of polysilicon and module producer GCL, called for a "clear out" of the sector through mergers and a paring back of production capacity. China was also moving away from reliance on a single market, Zhu said, referring to growth in new markets outside China in response to tariffs and other trade barriers. Chinese manufacturers have been rapidly expanding in the Middle East, and a module-producing firm said demand is set to grow in eastern Europe and South Asia. Solar manufacturing makes up less than two-thirds of Trina's business now and will fall to 50% or less in the next two to three years, Gao said, with a greater focus on product solutions and energy storage. Several experts told Reuters during this week's industry event that there is no hope for recovery in solar component prices this year. One procurement manager at a module producer in eastern China said two or three large factories would have to stop production for supply and demand to rebalance and support prices, unlikely in the near future. "The overcapacity issue is so deep one cannot see to the bottom," another module producer, using a Chinese proverb. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Details about Jeff Bezos and partner Lauren Sánchez's lavish Venice wedding spark outrage from locals: 'Holding their home hostage'
Details about Jeff Bezos and partner Lauren Sánchez's lavish Venice wedding spark outrage from locals: 'Holding their home hostage'

Yahoo

time38 minutes ago

  • Yahoo

Details about Jeff Bezos and partner Lauren Sánchez's lavish Venice wedding spark outrage from locals: 'Holding their home hostage'

Jeff Bezos' upcoming wedding to Lauren Sánchez has residents of Venice, Italy, worried about what the lavish affair will mean to their city, both logistically and environmentally. Bezos, the Amazon founder and one of the richest people in the world, is set to marry Sánchez on June 24 on the Venetian island of San Giorgio Maggiore. As VnExpress reported, the wedding is a high-end event, with many celebrities, politicians, and businesspeople on the guest list. For all of the publicity and news attention likely to be given to the wedding, there are also the couple's efforts to keep it relatively private. They have reportedly booked out five luxury hotels and reserved many, if not all, of Venice's water taxis, per the Daily Mail. Street closures and heightened security measures are also expected. Some locals believe the event will bring an economic windfall to Venice. But others are more skeptical, with some saying Bezos and Sánchez are "holding their home hostage." "It's going to be a great big nuisance," one tour guide told the Guardian. "I think most people are of the same opinion. We are exasperated by a whole series of problems related to overtourism and this is the umpteenth thing foisted on the city that we have to suffer." With such a high concentration of wealthy people arriving at Venice for the event, there also arise significant environmental concerns. In particular, many attendees are expected to travel to Italy on private jets — on which one flight can create more carbon pollution than the average person creates in an entire year. Others may stay on megayachts, which studies have found to be the largest polluters of any single item owned by the wealthy. This is especially troubling in Venice, which has been hit hard by pollution and a warming climate. Rising sea levels have exacerbated the problem of Venice's famed lagoon and canals frequently flooding the city. Partly in response, the city has put in an elaborate flood-gate system to combat rising tides, but each use costs more than $160,000 — and possibly closer to $300,000, as The Washington Post has reported. Bezos is also no stranger to backlash for his environmental habits. In particular, critics point to his $500 million yacht, Koru, that emits more than 7,000 tons of carbon each year, or about 450 times the average American's carbon footprint, according to calculations cited by the New York Post. Do you think America has a plastic waste problem? Definitely Only in some areas Not really I'm not sure Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store