Port of Los Angeles and Port of Long Beach monthly volumes head up again

April represented another very strong month for volumes, at the Port of Los Angeles (POLA) and the Port of Long Beach (POLB), according to data recently respectively issued by each port.

Total POLA volume, at 770,337 TEU (Twenty-Foot Equivalent Units), rose 12% annually, marking the ninth straight month of annual volume growth.  

POLA imports, at 416,929 TEU, saw a 21% annual increase, and exports, at 133,046 TEU, headed up 51% annually, rising for the 11^th consecutive month, paced by gains in recycled paper, animal feed, iron, steel, and aluminum. Empty containers, at 220,262 TEU, fell 14% annually.

Through the first four months of 2024, total POLA volume, at 3,150,841 TEU, is up 24.8% annually. And POLA added that tally is 5% above the port’s running five-year average, going back to 2019, which includes two record volume years amid the pandemic.

On a media conference call yesterday, POLA Executive Director Gene Seroka said that the strong monthly volumes marked the third-highest volume-month, for April, in POLA history.

“Overall, the U.S. economy’s continued strength serves as the foundation for driving this [import] volume increase, not only in Los Angeles, but at ports nationwide,” said Seroka. “Last week's Consumer Price Index showed a slight easing of inflation in April, which is good news for consumers after three consecutive months of price increases.”

Looking ahead, Seroka said he expects May volume to approach 700,000 TEU, adding that last May and June, when the ILWU and PMA reached their tentative labor deal, they represented the two best months for POLA in 2023.

“While we don’t anticipate quite that level of volume, we should see good cargo flow through the summer,” he stated. “The bottom line is that the Port of Los Angeles is well positioned for additional cargo. All of our vital statistics are currently at, or better than, pre-pandemic levels. We encourage shippers to take advantage of the extra capacity we have now at the port.”

But he also cautioned that certain things need to be taken into consideration, including inflation and interest rates, the election cycle, and several geopolitical issues.

“Regardless of how all these elements play out, the Port of Los Angeles is ready to upscale on demand as we move into the second half of 2024,” added Seroka.

POLB data: The Port of Long Beach reported that total April volume, at 750,524 TEU, headed up 14.4% annually. Imports, at 364,665 TEU, increased 16.3%, and exports, at 98,266 TEU, were off 19.9%. Empty containers, at 287,493 TEU, rose 30.7%.

Through the first four months of 2024, POLA reported that total volume, at 2,753,244 TEU, increased 15.8% annually.

“Imports are steadily climbing as we continue to work with industry partners to rebuild our market share,” said Port of Long Beach CEO Mario Cordero. “We are strengthening our competitiveness with our brand of operational excellence, customer service and ongoing infrastructure investments that will keep cargo moving efficiently well into the future.”