15-10-2016

Port of Long Beach container volume drops 17pc on Hanjin bankruptcy

LB

HANJIN's bankruptcy filing has resulted in a 17 per cent decline in cargo for the Port of Long Beach, the second biggest US port and the shipping line's chief destination, reports Bloomberg News. 

The decline showed a total of 545,805 TEU moved in the month for the Port of Long Beach. 

Hanjin filed for receivership on August 31. The year-earlier total was 655,624 TEU. 

Import totals at Long Beach fell 15 per cent exports declined 4.2 per cent and empty containers declined 27 per cent. 

Farther north, the Port of Oakland's cargo totals fell five per cent entirely because of a 40 per cent decline in empty containers, said the report. 

Exports at Oakland dropped 10 per cent, outpacing import shipments, which fell 4.2 per cent. 

Said the port statement: "The number of containers handled during September was impacted not only by reduced calls by Hanjin-operated ships, but also by the absence of Hanjin containers on vessels operated by fellow CKYHE Alliance members." 

Before its failure, Hanjin accounted for 12.3 per cent of Long Beach cargo volume, or about 885,000 TEU last year, when total cargo handled was 7.19 million. 

Long Beach cargo totals for the year to date declined 4.6 per cent. Oakland is up 3.5 per cent over the first nine months. 

Source: Schednet

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