LONG BEACH SETS FISCAL CONTAINER RECORD DESPITE LOCKOUT
The Port of Long Beach said container volumes rose 4.5 percent in its fiscal year 2002, as the West coast port handled a record 4.7 million TEUs in the period ending Sept. 30.
The total topped the port's previous high of 4.6 million TEUs, set in the October 1999-September 2000 fiscal year.
'The yearly total was stronger than projected earlier in the year, when many economists were predicting a slowdown in imports because of weakness in the U.S. economy,' said Richard D. Steinke, the port's executive director.
Imports for the fiscal year increased 5 percent to 2.55 million TEUs, while exports dipped 4.4 percent to 927,263 TEUs amidst and slumping Asian economy.
'Our strong imports were dampened by a work stoppage, which shut down the port at the end of September, and resulted in a 12.4-percent decline in the total volume for September,' Steinke said.
For September, total containers dropped to 340,339 TEUs. Imports fell 14.2 percent to 188,874 TEUs while exports fell 29.7 percent to 53,924 TEUs. Empty containers, most heading back to Asia to be re-filled with cargo, increased 6.7 percent to 97,541 TEUs.