WASHINGTON: The Long Beach port logged its strongest first quarter in a decade, after being hammered last year by the bankruptcy of its largest tenant, the South Korean-based Hanjin Shipping Co. Still the overall growth in volume for the period was modest, notching up 1.5 percent compared with the same quarter period last year, while imports climbed 2.1 percent during that time, according to port officials. “We’re happy to see these gains during the traditionally slow period of the year,” said Long Beach Harbor Commission President Lori Ann Guzmán in a released statement.
Overall volume rose 8.7 percent in March compared with the same time last year, while imports spiked 20 percent during the same period. Officials took the rise as a sign that the future is looking up for the nation’s second busiest seaport and key gateway to the Asian Pacific market. “We see a lot of upside for the remainder of 2017 as we expand our partnership with the world’s second-largest line, Mediterranean Shipping Co., add new business and strengthen our relationships with our partners,” Guzmán said.Earlier this year a New Jersey bankruptcy judge approved an MSC takeover of Hanjin’s stake in Terminal T, where cargo traffic nearly ground to a halt last year as cargo was held up at sea. Despite the boost, officials blame a strong dollar on a 5.3 percent decrease in containers exported from Long Beach in March.
