Despite a slight 3% drop from last year’s figures, the Port of Los Angeles processed 752,893 Twenty-Foot Equivalent Units (TEUs) in May, maintaining an overall 18% increase in cargo volume compared to 2023 for the first five months of the year.
Data for May 2024 reveals a mixed picture with loaded imports at 390,663 TEUs, marking a 4.5% decline from the same month last year and 6.3% down from April 2024. On the other hand, loaded exports rose to 125,963 TEUs, a significant 24% increase from last year, marking a 12-month streak of year-over-year gains. The port also reported a decrease in the processing of empty containers by 12% compared to 2023, with the total count standing at 236,268.
Executive Director of the Port of Los Angeles, Gene Seroka, reassured the public that the Port continues a strong and consistent volume trend that began at the start of the year.
“As we gear up for the second half of the year, our forecast indicates more robust activity on our docks throughout the summer,” he said.
In a bid to further increase cargo volume and reduce the port’s carbon footprint, Seroka announced an upcoming trip to Taiwan and China. The trip aims to establish a China-U.S. Green Shipping Corridor in Shanghai, co-sponsored by the ports of Los Angeles and Long Beach. This initiative will bring together port leaders and stakeholders to create a global trade route to Southern California using low and zero-carbon vessel fuels.
May’s figures come in as labor talks concerning 45,000 dockworkers at U.S. East and Gulf Coast ports stalled this week, raising concerns about a potential strike if no agreement is reached by the September 30 deadline. A strike could have major implications for shippers, especially during the peak holiday shipping season, who are already faced with longer transit times and higher costs.
However, Seroka downplayed these labor developments, stating that such stops and starts are typical during negotiations.
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