Port of Los Angeles cargo volume takes a downturn

Port of Los Angeles cargo volume takes a downturn

The Port of Los Angeles has reported a slowdown in cargo operations in August after record-breaking cargo volume in 2021 and the first half of 2022.

The port handled an estimated 806,000 TEU in August, approximately 15 per cent less than the same period a year ago.

“Some goods that usually arrive in August the for the fall and winter season shipped earlier to make sure they reached their destination in time,” Port of Los Angeles Executive Director Gene Seroka said at a news briefing.

“Additionally, inflationary concerns and elevated inventory levels have made some retailers and e-commerce sellers more cautious.

“We’ve been able to nearly eliminate the backlog of ships waiting to enter the port by 90 per cent compared to earlier this year.

“We’ve got capacity on our terminals and the ability to handle cargo coming in more efficiently than last holiday season.”

READ: Supply chain rattles amid improved seaside congestion

Official cargo volumes will be available soon according to the port’s recent statement. The port noted that Seroka’s estimates are expected to change only slightly when final.

August loaded imports reached an estimated 404,000 TEU compared to the previous year, a decrease of about 17 per cent.

Loaded exports reached an estimated 100,000 TEU, a 1 per cent year-on-year decrease.

Empty containers landed at an estimated 301,000 TEU, 18 per cent down compared to last year.

READ: Empty container congestion creates ‘double whammy’

Eight months into 2022, the Port of Los Angeles has moved an estimated 7.2 million TEU, about 1.6 per cent down from last year’s record pace.

Earlier this month, the Port of Los Angeles received a $20 million federal grant for a critical road-railway grade separation project for faster cargo movement and reduced delays.

The award comes from the U.S. Department of Transportation (USDOT)’s Rebuilding American Infrastructure with Sustainability and Equity (RAISE) discretionary grant programme.

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