financetom
Economy
financetom
/
Economy
/
Container imports soar at busiest US port in May as buyers try to outrun rising fuel costs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Container imports soar at busiest US port in May as buyers try to outrun rising fuel costs
Jun 16, 2026 3:22 PM

LOS ANGELES, June 16 (Reuters) - Imports to the busiest U.S. container port in Los Angeles hit the second-highest level in history during May, as retailers rushed in products like plastic school supplies before cargo ship owners start recouping higher fuel costs from the Iran war on July 1.

The Iran war has ​snarled shipping in the Middle East and reduced the availability of crude oil and its derivatives used to make plastic and other goods. Marine fuel costs have soared and some retailers and manufacturers are also worried that key raw materials and factory goods could become scarce or too expensive to ship. 

Companies are weighing energy costs, tariffs, inventory needs and geopolitical risks as they make sourcing and shipping decisions, Port of Los Angeles Executive Director Gene Seroka said on Tuesday.

"When they find a window of stability, many are moving quickly to take advantage, speeding cargo through the supply chain while conditions allow," Seroka said. 

The Port of Los Angeles handled a total of 840,165 20-foot equivalent units (TEUs) in May. That included ​449,370 TEUs of imports, a 26% increase from the year earlier, when since-struck down tariffs on U.S. imports caused shippers to slam on the brakes, data showed. A TEU is a standard measurement of volume for ocean cargo. A typical shipping container ​is 40 feet.

June and July volumes are shaping up to be even stronger than in May, said Seroka, who added it would take months for supply chains to normalize after the Iran war hostilities stop and the vital Strait of Hormuz shipping chokepoint reopens. 

FUEL PRICE RISES

The price of vessel bunker fuel across 20 global ports nearly doubled in March to $1,053 from the price before the start of the U.S. and Israeli attacks on Iran and then retreated on the possibility of a ceasefire deal. 

Nevertheless, starting on July 1 vessel operators will begin clawing back higher fuel costs in contracts that cover the bulk of cargo that moves.

Adding to pressures, 10% global Section 122 tariffs could expire in late July and the Trump administration has proposed new tariffs of up to 12.5% on imports from 60 countries tied to allegations of forced labor. 

Tuesday's results from the Port of Los Angeles came after supply chain technology provider Descartes Systems Group ( DSGX ) said total U.S. container import volumes jumped 11.5% in May from a year earlier.

Imports of plastic goods falling under the standardized, globally recognized Harmonized System code 39 increased 26% to 251,706 TEUs, according to import data analyzed by Descartes Datamyne. That included a nearly 87% increase in imports of plastic office or school supplies and a 57% increase in plastic tableware and kitchenware.  

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Crypto On The Ballot? Nope, Even Young Male Voters Prioritize Inflation, Jobs And The Economy
Crypto On The Ballot? Nope, Even Young Male Voters Prioritize Inflation, Jobs And The Economy
Oct 23, 2024
Cryptocurrency remains a low priority for male voters across all age groups, according to a new survey. What Happened: The survey, conducted by Blueprint, shows that despite the rise of digital assets in financial markets, men aged 18-29 place far greater emphasis on traditional issues like inflation, jobs, the economy, corruption and crime, leaving cryptocurrency as one of the three...
US existing home sales fall to 14-year low in September
US existing home sales fall to 14-year low in September
Oct 23, 2024
WASHINGTON (Reuters) - U.S. existing home sales dropped to a 14-year low in September, likely as prospective buyers held out for lower mortgage rates, with house prices remaining elevated. Home sales fell 1.0% last month to a seasonally adjusted annual rate of 3.84 million units, the lowest level since October 2010, the National Association of Realtors said on Wednesday. Economists...
USD/JPY Climbs To Three-Month Peak Amid US Dollar Strength
USD/JPY Climbs To Three-Month Peak Amid US Dollar Strength
Oct 23, 2024
By RoboForex Analytical Department The USD/JPY currency pair surged to near three-month highs, hitting 151.79, driven by the strengthening US dollar and rising US government bond yields. The appreciation of the US dollar was supported by favourable macroeconomic data from the US and ongoing demand for safe-haven assets in anticipation of the upcoming US elections. Japan's political landscape is uncertain...
Putin scores a BRICS win with rare Xi and Modi show of harmony
Putin scores a BRICS win with rare Xi and Modi show of harmony
Oct 23, 2024
* Xi and Modi hold first formal talks in five years * Putin gets a win with Xi-Modi meeting * Putin says 30 countries hope to join BRICS * BRICS communique calls for less conflict (Recasts headline and lead Xi, Modi meeting in paragraphs 1,2, 3-7, O'Neill comments paragraphs 10-11, 23) By Vladimir Soldatkin and Guy Faulconbridge KAZAN, Russia, Oct...
Copyright 2023-2026 - www.financetom.com All Rights Reserved