Port of Los Angeles Sees Softer Trade to Start the Year

The Port of Los Angeles moved 726,014 TEUs in January for a 16% decrease from January 2022’s record, the port announced Thursday.

“We expect softer global trade throughout the first quarter, particularly compared to last year’s record-breaking start,” Port of Los Angeles Executive Director Gene Seroka. “Many factories in Asia have had extended Lunar New Year closures, retailers continue to discount products to clear warehouses and inflation-led economic concerns remain top of mind for Americans. With capacity on our docks today, we’re ready to unlock new levels of value and service at the Port of Los Angeles.”

January 2023 loaded imports reached 372,040 TEUs, down 13% compared to the same month last year but the busiest month for imports since August 2022 and up 5% from December.

Loaded exports came in at 102,723 TEUs, an increase of 2.5% compared to last year. Empty containers landed at 251,251 TEUs, a 26% year-over-year decline.

Next door the Port of Long Beach fared worse in January, moving 573,772 TEUs in January, down 28.4% from January 2022. Imports, in particular, decreased 32.3% year over year.

The National Retail Federation sees softer containerized imports lasting through at least the first half of the year as retailers remain cautious about the state of the economy.

Descartes Systems meanwhile is reporting that total U.S. container imports dipped below pre-pandemic levels in January for the first time since early in the COVID-19 crisis. 

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