LA Port Shipping Boom: Highest June on Record

I reported yesterday that international trade reached a 19-month in May, and today’s report from the Port of Los Angeles provides additional statistical evidence of an ongoing boom in international trade activity.  Shipping volume reached a 22-month high in June of  730,318 TEUs, the highest monthly shipping activity since August of 2008 (see chart above), and 32.38% above June last year.  On a year-to-date basis, shipping activity at the LA Port is up by 15%. Other highlights include:

•Strengthening of the overall trade environment.

•Imports were up 32%, Exports were up 12%, empty containers were up 53%, overall up by 32% for month of June, YTD up 15%

•Vessel services were upsized to handle the surge of volume

•Carriers are bringing back peak season services – six more vessel arrivals over June 2009

•Vessels are arriving close to full capacity

•Large amount of empty container returns to Asia as a result of higher import volumes and to replenish the shortage of empty equipment in Asia

•For the month of June, this year sets an all-time record high

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About Mark J. Perry 262 Articles

Affiliation: University of Michigan

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.

He holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. and an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota.

Since 1997, Professor Perry has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.

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