SIMIC

Similarly, the adjacent Port of Long Beach reported that September volume slipped 0.9 per cent annually in September to 741,823 TEU.

LA handled 709,873 TEU in September 2022, a 21.5 per cent decrease from September 2021, which was the port's busiest September on record.

September 2022 loaded imports through LA reached 343,462 TEU, down 27 per cent compared to the previous year. Loaded exports came in at 77,680 TEU, up three per cent year on year.

Empty containers landed in at 288,731 TEU, a 20 per cent decline compared to last year.

Still buoyant, Port of Los Angeles executive director Gene Seroka said: "Despite what will likely be a soft ending to 2022, we are on track to have the second-best year in our history. More importantly, the cargo backlog that began last year has been nearly eliminated."

Said Port of Long Beach officials: "Consumers are growing more cautious with spending as the economy faces persistent inflation and aggressive tightening by the Federal Reserve."

On a year-to-date basis through September, total Long Beach volume is up 3.5 per cent annually, to 7,342,383 TEU, third quarter volume off 0.3 per cent annually, to 2,334,605 TEU.

Said Port of Long Beach executive director Mario Cordero: "Consumers and retailers are concerned about inflation, leading to warehouses filled with inventory and fewer product orders from Asia. The respite is leading to increased capacity and fewer ships waiting off the coast to enter port."