Port activity up for 4th straight month
August 8, 2012
West Coast ports grew for the fourth straight month in June and year-over-year growth improved after slowing to near zero in May. June TEUs were 2.4% higher than in May and have grown for 4 straight months. Volumes in June were at 1.784 million TEUs. Year-over-year growth improved, up 4.3% versus last June.
West Coast imports are rising seasonally and showed a year-over-year gain of over 6% in June. Although the June import jump of 3.0% from May and 6.1% versus last year tell a growth story, the seasonally adjusted numbers tell us that the volume trend is, in reality, simply flat.
Exports declined fairly sharply in June and remain barely in the black for the year. Exports were down 3.7% from May and were up just 0.8% versus last year.
We are currently just below the peak of port activity from last year but are still expecting to see continued growth over the next two months. This will give us a stronger peak season than last year but we will still be well below the levels achieved in 2010.
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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