LA Port Inbound Traffic Down Sharply YoY in February

by Calculated Danger on 3/17/2023 03:16:00 PM

Notes: The growth to the Panama Canal was accomplished in 2016 (As I famous a number of years in the past), and among the site visitors that used the ports of Los Angeles and Lengthy Seashore might be going via the canal. This could be impacting TEUs on the West Coast.

Container site visitors provides us an concept in regards to the quantity of products being exported and imported – and normally some hints in regards to the commerce report since LA space ports deal with about 40% of the nation’s container port site visitors.

The next graphs are for inbound and outbound site visitors on the ports of Los Angeles and Lengthy Seashore in TEUs (TEUs: 20-foot equal models or 20-foot-long cargo container).

To take away the robust seasonal element for inbound site visitors, the primary graph exhibits the rolling 12-month common.

Click on on graph for bigger picture.

On a rolling 12-month foundation, inbound site visitors decreased 3.4% in February in comparison with the rolling 12 months ending in January.   Outbound site visitors decreased 0.8% in comparison with the rolling 12 months ending the earlier month.

The 2nd graph is the month-to-month information (with a powerful seasonal sample for imports).

LA Area Port TrafficOften imports peak within the July to October interval as retailers import items for the Christmas vacation, after which decline sharply and backside in February or March relying on the timing of the Chinese language New 12 months.

Imports had been down 38% YoY in February, and exports had been down 9% YoY.  The amount of containers unloaded final yr was a lot stronger due to all of the ships ready to unload.

It’s doable that exports have bottomed after declining for a number of years (even previous to the pandemic).