The Port of Los Angeles handled 855,652 TEUs in January 2024, the second-best start to the year on record.

"Eclipsed only by the pandemic-induced cargo surge in 2022, it was the sixth consecutive month of year-over-year increases and surpassed January 2023 by 18 percent," says an official release.

Gene Seroka, Executive Director, Port of Los Angeles says: “Two factors are driving our strong start. First, cargo owners have been replenishing inventories and moving goods at a fast clip ahead of the Lunar New Year holiday, which will slow production in Asia. Second, consumer spending and mostly strong economic data continue to accelerate the American economy.”

Seroka said last season’s holiday sales grew nearly four percent with strong job growth and other key indicators trending in a positive direction.

January 2024 loaded imports landed at 441,763 TEUs, up 19 percent compared to the previous year. Loaded exports came in at 126,554 TEUs, an increase of 23 percent compared to last year. The port processed 287,336 empty containers, up 14 percent YoY.

Port of Long Beach volume up 17%
The Port of Long Beach moved 674,015 TEUs in January, up 17.5 percent from January 2023. "Imports increased 23.5 percent to 325,339 TEUs and exports were down 18.1 percent to 86,525 TEUs. Empty containers moved through the port increased 28 percent to 262,151 TEUs," says an official release.

Mario Cordero, CEO, Port of Long Beach says: "Retailers stocked their warehouses in January ahead of the slower import activity we typically see during Lunar New Year celebrations. We are ready to grow our volumes and hope to see continued growth through 2024 as we gradually recapture market share."

The strong start to 2024 marks the fifth consecutive monthly year-over-year increase following 13 months of declines in cargo movement at the port, the release added.

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