February 16, 2017 Comments Off on Port Trade Surges in January Views: 453 California News, Top California Stories

Port Trade Surges in January

Imports surged in the U.S. last month, bolstered by a stronger dollar, retailer restocking and improved consumer confidence. High volumes of goods moved through the nation’s ports and distribution channels, though a push to beat the Lunar New Year slowdown may have partly contributed to the increase.

The Ports of Los Angeles and Long Beach led the way, as imports increased 10.6% over last January, while exports soared by 20%. The two ports combined to import 714,413 loaded 20-foot equivalent units, the strongest performance since the peak month of August 2016. The two ports exported more than 600,000 TEUs, though more than half returned empty. Imports also rose 3.6% over last January at the Port of Oakland.

Continued strong demand is projected during spring 2017 by shipping trackers, retailers and logistics industry analysts. More spending from U.S. consumers and industrial customers abroad will be required to sustain the momentum.

Read more at Wall Street Journal

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