Port of LA begins year with near-record volumes

Port of LA begins year with near-record January volume

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

It was the sixth straight month of year-over-year (YoY) growth, trailing only the pandemic-induced freight boom in 2022, and it outperformed January 2023 by 18 per cent.

Port of Los Angeles Executive Director Gene Seroka said: “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.”

READ: Port of Los Angeles enjoys third consecutive month of cargo increase

Seroka said that last season’s Christmas sales increased by about 4 per cent, with significant employment growth and other important indicators developing positively.

At the port’s media event, Seroka was joined by California Lieutenant Governor Eleni Kounalakis, who emphasized the need for infrastructure and sustainability investments in California’s ports and freight systems.

READ: Port of Los Angeles nears 8 million TEU mark

“California’s historic investments in our state’s supply chain infrastructure are designed to make our ports more competitive and sustainable,” said Lieutenant Governor Eleni Kounalakis.

With updates in infrastructure, digitalisation, and zero-emission projects at the Port of Los Angeles, California’s supply chains are moving goods efficiently, accelerating the decarbonization of the state freight sector, all while creating high-quality jobs.” 

In January 2024, loaded imports totaled 441,763 TEU, up 19 per cent from the previous year. Loaded exports totaled 126,554 TEU, a 23 per cent increase from the previous year. The port processed 287,336 empty containers, up 14 per cent from 2023.

In December 2023, the Port of Los Angeles finished 2023 on a high note, processing 747,335 TEU, 2.5 per cent higher than the previous year.

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