June POLA and POLB volumes see annual declines against strong annual comparisons

June volumes at the Port of Los Angeles (POLA) and the Port of Long Beach (POLB) were mixed, to varying degrees, according to data issued by each port this week.

Total POLA volume, at 833,045 TEU (Twenty-Foot Equivalent Units), was down 4.97% annually, but, despite the decline, this marked the highest-volume month going back to July 2022, which was an all-time record month for POLA.

POLA imports fell 2% annually, to 435,307 TEU, and exports, at 108,050 TEU, saw a 15% annual gain. Empty containers fell 14% annually, to 289,679 TEU, 13% ahead of its five-year average.

On a year-to-date basis, through June, total POLA volume is down 24% annually, to 4,137,379 TEU.

POLB Executive Director Gene Seroka said on a media call yesterday that June volumes were nearly 6% above the port’s five-year running average for the month.

“June was our strongest performance since last July and since February our cargo volume has increased over 70% with four months of consecutive gains,” he said. “We posted solid numbers across the board in June.”

Seroka added that at the midway point of 2023, total POLA volume, at 4.1 million TEU is off 24% compared to its near-record start in 2023, and 12% below its five-year average, for the same period.

“Looking ahead, we got a tentative labor deal in place [between the Pacific Maritime Association and the International Longshore and Warehouse Union], and the economy continues to be resilient,” he said. “There was really good news [yesterday], with inflation cooling for the 12th consecutive month. Consumer prices increased only 3% from a year earlier…down from 4% in May. And Amazon is reporting that its Prime Days are expected to be its best ever. That's another great indicator that the consumers are still willing to spend. It's difficult though to forecast the remainder of the year. We do see some softness in July, with nine canceled sailings, so cargo will be down compared to June, yet I'm optimistic that these next six months will outpace the first half of the year.”

POLB data: The Port of Long Beach reported that total volume came in at 597,076, down 28.5% compared to June 2022, its highest-volume June on record.

Imports fell 34%, to 274,325 TEU, and exports were down 18%, to 94,508 TEU, with empty containers falling 25%, to 228,243 TEU.

Through the first six months of 2023, POLB volume is down 25.5%, to 3,732,676 TEU compared to the same period a year ago.

“We are hopeful to obtain a greater percentile of market share,” said Port of Long Beach CEO Mario Cordero in a statement. “We remain confident that our reliability, efficiency and unparalleled service will attract additional trade and economic activity to our Port.”