The October container cargo count at the Port of Long Beach, California, was 613,621 units, up 33.5% from the year-ago month, according to the port authority. Units are measured in 20-foot equivalent containers. October is the 11th consecutive month of volume increases at the port, which serves Los Angeles and southern California, in the year-to-year comparisons, according to a port statement late Monday.
Bunker prices did not respond to the increased traffic, prices in the port during October averaged $470.88/mt for 380 CST, while September averaged $456.64/mt, a 3.1% increase, according to Platts data.
“I don’t think there is a correlation between bunker prices and increased units,” said one Los Angeles bunker supplier. “If you look at what crude did during the same time, I think you’ll see bunkers followed crude higher.”
NYMEX crude averaged $81.89/barrel in October, up 8.9% from $75.17/b in September.
A total of 303,168 equivalent container units, also known as ton equivalency units, or TEUs, were imported through the Port of Long Beach in October, a 33.5% increase over October of last year. It is only the second time since November 2007 that imports have topped 300,000 units in a month.
Exports were up 26.3% to 150,581 TEUs.
Empty containers, mostly outbound overseas for refilling, was up 50.6% to 159,872 TEUs.
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