PORT OF LOS ANGELES POSTS BUSIEST MONTH SINCE PANDEMIC

The Port of Los Angeles posted its busiest month since the pandemic in August, with cargo volumes up 16% year-over-year, highlighting strong consumer demand in the U.S. market.

 

 

Port of Los Angeles

 

The Port of Los Angeles handled 960,597 twenty-foot equivalent units (TEUs) in August, up 16% year-over-year and its busiest month since the pandemic.

 

Eight months into 2024, the top U.S. container port is 17% ahead of its 2023 pace, with nearly 1 million more TEUs handled than the same period last year.

 

“The American consumer continues to spend and that’s helping to power our economy,” Port of Los Angeles CEO Gene Seroka said in a press release. “Some of the cargo arriving now is replenishing inventories even beyond the year-end holiday season. Combined with a steady flow of manufacturing parts and components, we should continue to see elevated volume in the near term.”

 

In August, imports reached 509,363 TEUs, up 18% year-over-year. Exports reached 121,744 TEUs, down 3% from 2023. The port handled 329,491 empty containers, up 22% from 2023.

 

In total, the port handled 6,631,688 TEUs in the first eight months of 2024, up 17% from the same period in 2023.

 

Source: Freight Waves

 

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