Port of Long Beach (POLB) revealed a drop in volume during March which was nearly a third lower than similar month in the previous year. The retail industry continues to clean warehouses and shippers move routes across on the West Coast to seaports on the East and Gulf coasts, as per the statement of the port.

Particularly, dockworkers as well as terminal operators shipped 603,878 TEUs during March in a decrease of 30 percent from the March of 2022. This was the most busy month in history.

Furthermore, imports declined by 34.7 percentage to 279,148 tonnes as exports grew by 16.9 percent to the tune of 133,512 TEUs. Containers that are empty and transported through the Port fell by 40.5 percent, to 191,218 tonnes.

“Warehouses are still full, and less cargo containers cross docks as the consumer market is slowing,” said executive director of the Port of Long Beach, Mario Cordero.

The financial markets, according to economists, have begun to stabilize due to fears of a bank crises in March. The port transferred 1,721,326 TEUs in the 1st quarter of 2023. That’s less than 30% compared to the previous quarter in 2022.

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