LA Port Shipping Boom: Highest June on Record

I reported yesterday that international trade reached a 19-month high 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