The Port of Long Beach cargo volumes rose nearly 15% year-over-year to 755,150 total TEUs in October, showing a two-month consecutive increase.
"Cargo is rebounding and we are continuing to collaborate with our industry partners to recapture market share and invest in infrastructure that will position us for future growth," CEO Mario Cordero said in the release. "We are anticipating moderate growth through the rest of the year as retailers continue to stock shelves for the winter holidays."
Despite higher volume YoY, October volumes at the Port of Long Beach were down 9% compared to the previous month, moving 829,429 total TEUs. Cargo processed in October was up 10% compared to 2019, which saw 688,426 total TEUs moved.
The Port of Long Beach has moved 6.57 million TEUs during the first 10 months of 2023, down 17.8% compared to the same time period last year, according to the release. The port noted that cargo flows are on pace with pre-pandemic levels where it handled more than 6.36 million TEUs through October 2019.