Port activity strong in April
June 12, 2012
West Coast ports improved for the second straight month and are at the highest level since last November. April TEUs were 2.8% higher than in March – this is well below the ~20% swings that were seen in the prior two months. Volumes in April were at 1.674 million TEUs. Year-over-year growth slowed after rebounding strongly in March, up only 2.0% in April.
The West Coast ports held onto March import gains in April. The data shows a mixed picture but mostly positive news. Imports remain ahead of prior year. April imports at U.S. west coast ports rose seasonally to a level 3.3% ahead of last year. Seasonally adjusted volume edged down slightly, indicating overall stability in the current performance. Not a bad sign given the very strong growth that was recorded in March.
Export activity decreased in April and year-over-year comparisons turned negative. After two months of accelerating year-over-year gains, Exports dropped over 9% from March, slipping below prior year levels, down 1.0%.
TEU: Twenty-Foot Equivalent Unit
The standard unit for describing a container ship’s cargo carrying capacity, or a shipping terminal’s container cargo handling capacity. A standard forty-foot international container (40x8x8 feet) equals two TEUs (each 20x8x8 feet).
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