January 17, 2017 Comments Off on Port of LA Cargo Traffic Hits Record, Long Beach Declines Views: 349 California News, Top California, West

Port of LA Cargo Traffic Hits Record, Long Beach Declines

Container cargo traffic was up 8.5% last year at the Port of Los Angeles, yet its neighbor, the Port of Long Beach, experienced a 5.8% drop off in cargo traffic during the same period.

Nearly 8.9 million container units passed through the Port of Los Angeles, a new record, while just 6.8 million container units went through Long Beach’s terminals.

The drop off in Long Beach was blamed on the Hanjin Shipping bankruptcy filing, as well as mergers between other ocean carriers. Hanjin was a majority stakeholder at Long Beach’s largest container terminal. As a result of the bankruptcy, Hanjin’s cargo shifted to other shipping lines that had agreements with terminals at the Port of Los Angeles.

A subsidiary of Mediterranean Shipping Co. eventually agreed to take over the long-term lease at Hanjin’s former terminal.

Read more at Los Angeles Business Journal

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