Port Of Los Angeles cargo volume increases in September
Loaded imports increased 14% to 392,608 TEUs, exports up 55% at 120,635 TEUs
Port of Los Angeles handled 748,440 TEUs in September, a 5.4 percent improvement compared to the same period last year and an increase for the second consecutive month.
Loaded imports landed at 392,608 TEUs, an increase of 14 percent. Loaded exports came in at 120,635 TEUs, an increase of 55 percent compared to 2022. It was the fourth consecutive month of year-over-year monthly export gains. Empty containers totaled 235,197 TEUs, a decline of 18.5 percent from last year.
“September was another good month with imports up 14 percent and exports jumping 55 percent,” says Gene Seroka, Executive Director, Port of Los Angeles. “Exports are trending up, and that’s good news because narrowing the trade gap boosts the U.S. economy. Additionally, export jobs on average pay more than work in other segments.
"With a long-term dock worker contract in place, we’re seeing more cargo shifting back to Los Angeles. The table is set to scale up as demand increases.”
Matthew Shay, President and CEO, National Retail Federation, outlined retail trends for the upcoming holiday season: “Retailers have been hard at work getting holiday inventories in place to provide consumers with great products, competitive prices and convenience at every opportunity. As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities."
The Port has processed 6,398,126 TEUs during the first nine months of 2023, 18.6 percent less than the same period last year.
The Port of Long Beach achieved its busiest September on record, boosted by consumer demand for holiday-related goods, recent ratification of a labour pact between dockworkers and management and an on-going effort to showcase the business attributes of the port.
Dockworkers and terminal operators moved 829,429 TEUs in September, up 12 percent from the same month last year and surpassing the previous record set in September 2020 (78,849 TEUs). September also marked the Port’s first monthly year-over-year cargo increase in 14 months.
The U.S. Department of Energy will award up to $1.2 billion in grant funding to a public-private partnership formed to lead California’s bid to create a hydrogen hub. The ports of Los Angeles and Long Beach are project partners and will receive a portion of the state’s grant funds to advance the use of hydrogen fuel in goods movement.