The Port of Los Angeles announced February 14 that it handled 855,652 Twenty-Foot Equivalent Units (TEUs) in January, the second-best start to a year in port history. January also marked the sixth straight month of year-over-year gains for the port, surpassing January 2023’s totals by 18%.
“Two factors are driving our strong start,” said Port of Los Angeles executive director Gene Seroka during a February 14 media briefing. “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.” Seroka said last season’s holiday sales grew nearly 4%, with strong job growth and other key indicators trending in a positive direction.”
Loaded imports that landed at the port during January were up 19% from the previous year, topping out at 441,763 TEUs. Meanwhile, loaded exports came in at 126,554 TEUs, a 23% year-over-year increase.
The port also processed 287,336 empty containers, up 13% from the previous year.
“California’s historic investments in our state’s supply chain infrastructure are designed to make our ports more competitive and sustainable,” said California Lieutenant Governor Eleni Kounalakis, who also spoke during the February 14 media briefing. “With updates in infrastructure, digitalization, 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.”
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- Source: https://www.supplychainbrain.com/articles/39105-port-of-la-kicks-off-2024-with-near-record-january-volume
