Port activity shows seasonal growth
July 9, 2012
West Coast ports showed continued improvement in May but the year ago comparison slowed to almost zero. May TEUs were 4.1% higher than in April and have grown for 3 straight months. Volumes in May were at 1.743 million TEUs. Year-over-year growth slowed once more, up just 0.3% versus last May.
West Coast imports were flat in May. Imports are rising seasonally but were essentially flat y/y for the second month running.
Exports were also flat. Exports grew only slightly from April to May and were virtually unchanged from prior year. There are reports of weakening in Asian economies, but it is not evident in the figures yet.
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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