The Port of Los Angeles has moved 684,291 TEU in July as cargo shipments declined compared to last year’s record month.
Port of Los Angeles Executive Director, Gene Seroka, said: “Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated.
“American consumers are continuing to spend and are likely to find more discounted items this year as we move into fall fashion and year-end holiday season.”
In July 2023, loaded imports landed at 364,208 TEU, down 25 per cent compared to the previous year. Loaded exports came in at 110,372 TEU, an increase of 6 per cent compared to last year.
With the need for empty containers in Asia slowing, just 209,710 empty TEU were processed, a 39 per cent year-over-year (YoY) decline.
Combined, July volumes were 684,291 TEU, a 27 per cent YoY decline. Seven months into 2023, the port has processed 4.8 million TEU, about 24 per cent less than the same period last year.
In July 2023, the State of California gave the Port of Los Angeles $233 million in funding to finish critical infrastructure improvements aimed at establishing a more efficient and sustainable supply chain.