Port of Los Angeles recoups nearing 800,000 TEU in May

Port of Los Angeles recoups nearing 800,000 TEU in May

For the third consecutive month, cargo volume at the Port of Los Angeles increased in May, with the port handling 779,140 TEU.

While that is a drop of about 19 per cent compared to last May, it represents a 60 per cent increase in cargo since February.

“Even with improving volume, our terminals are a long way from working at full capacity,” said Port of Los Angeles Executive Director, Gene Seroka, during a media briefing.

“We’re starting to see more vessels headed across the Pacific to Los Angeles, an encouraging sign for the second half of the year.”

READ: Port of Los Angeles comes in shy of 10 million TEU

Seroka noted that a completed labour contract between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) – along with a healthy US economy – would boost waterfront jobs and cargo activity in the remainder of 2023.

In April 2023, the port processed 688,110 TEU.

May 2023 loaded imports reached 409,150 TEU, down 18 per cent compared to the previous year.

Loaded exports came in at 101,741 TEU, a decline of 19 per cent compared to last year.

Empty containers landed at 268,249 TEU, a 22 per cent year-over-year decline.

During the first five months of 2023, the Port of Los Angeles handled 3,304,344 TEU, a 27 per cent decline compared to the same period in 2022.

This month, the Los Angeles Board of Harbor Commissioners gave its approval to a $2 billion annual budget for the Port of Los Angeles for the Fiscal Year (FY) 2023/24.

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