Port of Los Angeles Cargo Volumes Fall 27% in July

Wednesday, 27 December 2023

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The Port of Los Angeles moved 684,291 Twenty-Foot Equivalent Units (TEUs) in July as cargo volumes declined 27% compared to last year’s record month.

“Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated,” said Port of Los Angeles Executive Director Gene Seroka. “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.”

July’s loaded imports landed at 364,208 TEUs, down 25% YoY, while loaded exports increased by 6% YoY to 110,372 TEUs. Meanwhile, the demand for empty containers in Asia slowed, resulting in a 39% YoY decline to 209,710 empty TEUs.

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Overall, July volumes were 684,291 TEUs, a 27% YoY decline.

Seven months into 2023, the Port of Los Angeles has processed 4,821,670 TEUs, about 24% less than the same period last year.

Next door, the Port of Long Beach moved 578,249 TEUs last month for a decrease of 26.4% compared to last year’s exceptionally busy July. Imports went down by 27.9% YoY, while exports decreased by 17.6% YoY, and empty containers passing through the port dropped by 27.7% YoY.

Over the first seven months of 2023, the Port of Long Beach has moved 25.6% less cargo than last year. The port said cargo volumes have been impacted by adjusted routes, full warehouses and consumers’ shift to travel, adding that it is a expecting a ‘modest’ peaking shipping.

Source : gcaptain.com

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