LA Port June volume strongest in a year
Port of Los Angeles moved 833,035 TEUs in June, its best performance since last July
The Port of Los Angeles moved 833,035 TEUs in June, its best performance since last July and just 5 percent less than last year’s record.
“Cargo volume has increased a remarkable 70 percent since February with four months of consecutive gains,” says Gene Seroka, Executive Director, Port of Los Angeles.
“Although we will likely see cargo ease in July, I’m optimistic that the second half of 2023 will show improved performance compared to the first six months.”
June 2023 loaded imports reached 435,307 TEUs, down two percent compared to the previous year. Loaded exports came in at 108,050 TEUs, an increase of 15 percent compared to last year. Empty containers landed at 289,679 TEUs, a 14 percent year-over-year decline.
During the first six months of 2023, the port handled 4.1 million TEUs, a 24 percent decline compared to the same period in 2022.
The Port of Long Beach reached its strongest month so far in 2023 in May, raising mid-year hopes of a trend of increasing volume.
Dockworkers and terminal operators moved 758,225 TEUs in May, down 15 percent from May 2022. While imports decreased 17 percent to 361,661 TEUs, exports increased eight percent to 127,870 TEUs. Empty containers moved through the port declined 20 percent to 268,695 TEUs.
The Xeneta Shipping Index (XSI) dropped 9.4 percent in June, a 23-month low, due to the sharp decline in the sub-index for Far East exports, which has dropped 65 percent since December and 14 percent since May.