The LA and Long Beach ports saw exceptionally high activity in February, surpassing previous records and maintaining strong performance amidst a surge in US imports.
The Port of Los Angeles, the nation's busiest container port, processed 781,434 TEU during the month, marking a significant 60 percent increase compared to the previous year. Gene Seroka, the executive director of the Port of Los Angeles, expressed confidence in the port's outlook for the coming months, citing sustained consumer spending and positive economic indicators.
Loaded imports at the Port of Los Angeles reached 408,764 TEU in February, up by 64 percent from the previous year, making it the third busiest February for imports in recent years. Loaded exports also experienced a notable increase of 61 percent compared to last year, with the port handling 132,755 TEU. Additionally, the port processed 239,916 empties, marking a 54 percent increase over the same period in 2023. The total TEU managed by the port in the first two months of 2024 amounted to 1,637,086, representing a substantial 35 percent increase compared to the same period last year.
At Long Beach, the port reported processing 674,723 TEU in February, reflecting a notable year-on-year increase of 24.1 percent. Mario Cordero, CEO of the Port of Long Beach, highlighted ongoing investments in infrastructure projects aimed at enhancing competitiveness and sustainability.
In terms of specifics, February imports at the Port of Long Beach rose by 29.4 percent to 329,850 TEU, while exports declined by 21.1 percent to 87,474 TEU. The movement of empty containers through the Port also increased significantly, rising by 44.8 percent to 257,400 TEU.
Despite the strong performance, February 2024 marked only the fifth busiest February for loaded imports at Long Beach, trailing behind recent years like 2022, 2021, 2019, and 2018. Nevertheless, the Port of Long Beach handled a total of 1,348,738 TEU in the first two months of 2024, marking a solid 20.7 percent increase compared to the same period in 2023.
Source: www.freightwaves.com
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