The Port of Los Angeles led the nation in container volume during 2007 with 8.4 million TEUs, a 1.36 percent dip in total TEU volume.
Containerised export cargo continued to grow at a record pace in 2007, with a 13 percent increase of loaded outbound containers to 184,023 TEUs and an 11.4 percent decrease in empty containers.
Since 2000, containerised exports have risen 63 percent. The port's export trade includes cotton, waste paper, scrap metal, animal feed, resins, and aircraft and automotive parts.
Port of Los Angeles executive director Geraldine Knatz said with soft consumer spending and the weak US dollar, the 2007 results were on par for the most part with west coast and national volumes, a reminder that ports are a reflection of the economic climate. He said the housing slump correlates into a decline in consumer demand for furniture, which is the largest containerized cargo import.
In the Transpacific trade, shipping lines incurred heavy losses during 2007 due to steep increases in fuel costs over the past 24 months and no fuel surcharge ability to offset those costs. In the coming years, it's expected that the shipping lines will continue to invest in the more lucrative Asia-Europe trade, deploying larger ships and more services to support trade between Asia and Europe, the world's largest consumer market.
Meanwhile, container trade volumes of the Port of Long Beach reached 7.31 million TEUs in 2007 compared with 7.29 million TEUs in 2006.
Port executive director Richard D. Steinke said the US economy cooled over the course of 2007, resulting in a corresponding drop in the growth of containerized imports.
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