May POLA and POLB volumes see declines while remaining on growth track into summer months

May volumes for the Port of Los Angeles (POLA) and Port of Long Beach (POLB) saw declines while maintaining solid momentum, according to data recently respectively issued by each port.

Total POLA volume, at 752,893 TEU (Twenty-Foot Equivalent Units), fell 3.37% annually. On a year-to-date basis through May, POLA volume, at 3,903,733 TEU, is up 18.14% annually.

Imports, at 390,663 TEU, were off 4.5% annually, and exports, at 125,963 TEU, rose 24% annually, with exports having seen gains over the last 12 months. Empty containers, at 236,268 TEU, decreased 12% annually.

On a media conference call yesterday, POLA Executive Director Gene Seroka said that May continued the port’s trend of consistent volume going back to the beginning of the year.

“We're right in line with projections and over all off to a solid start in 2024,” he said. “Looking at the key data, including an impressive May employment report that was well beyond expectations, it points toward continued consumer spending. In fact, the National Retail Federation said that imports into the U.S. will reach their highest level in two years during the upcoming summer months.”

Addressing exports, Seroka observed that POLA reached a new milestone, with 12 consecutive months of annual export gains, coming in at a more than 1.5 million TEU cumulatively, a tally which is nearly one-third more than the previous 12 months combined, with Seroka calling it a remarkable increase over such a sustained period of time.

“Even though we're finally seeing a promising rebound, there's still ample room for growth on the export side of our business,” he said. “To address this, we're actively engaged with agricultural interest manufacturers, service providers and top US officials to make an even bigger dent in the trade imbalance.”

Looking ahead to the second half of 2024, Seroka said he expects the port’s strong performance to continue.

“Last year we peaked in June with more than 830,000 TEU, and while I don't anticipate quite reaching that mark, our forecast for this month indicates consistent volume across our docks somewhere in the mid-to-upper 700,000 TEU range,” he said.

POLB data: The Port of Long Beach reported that total May volume, at 695,937 TEU, fell 8.2% annually.

Imports decreased 4.5%, coming in at 345,271 TEU, and exports, at 100,885 TEU, slid 21.1%. Empty containers, at 249,782 TEU, were off 7%.

On a year-to-date basis through May, total POLB volume, at 3,449,181 TEU, is up 10% annually.

“I am confident we will see additional cargo as we work with industry partners to rebuild our market share in this increasingly competitive environment,” said Port of Long Beach CEO Mario Cordero in a statement. “Looking ahead, I anticipate a moderate increase in cargo as we move into summer and we recapture business by delivering the top-notch customer service that makes us the Port of Choice.”