Year-end cargo numbers for both the ports of Los Angeles and Long Beach were down by double digits last year.
The Port of L.A. finished 2023 with 8,634,497 twenty-foot equivalent units — or TEUs, the industry’s measuring standard — which was about 13% less than in 2022 in a year-over-year comparison.
The Port of Long Beach handled 8,018,668 TEUs in 2023, which was down by 12.2% compared to 2022.
Both ports, however, did see stronger numbers come in over the last half of the year, fueling the hope that cargo is on the rebound and will show steady improvements throughout 2024.
Port of Long Beach CEO Mario Cordero, who gave his State of the Port address on Wednesday, Jan. 17, said the twin port complex remains the nation’s leading trade gateway and saw consistent cargo flow throughout the year. And the fourth quarter in Long Beach, he added, was especially strong, with the last four months showing stronger numbers than the same months in 2022.
December numbers at the Port of L.A. were especially strong, Executive Director Gene Seroka said in written remarks. Those cargo numbers were up by 2.5% over December 2022. That port saw year-over-year increases for the last five months of 2023.
Cargo numbers at both ports surged into the 10 million range during the 2021-22 years as consumers went on a pandemic shopping spree.
Container traffic has slowed since then.
“In 2024,” Seroka said in a news release, “our sights are set on community investment, sustainability progress and capturing additional market share.”
Specifically, to drive more cargo, he said, “we’re investing in a 10-year, $2 billion capital improvement program.”
The focus, Seroka said, will be on securing technology enhancements and reducing the port’s carbon footprint.
Read the full article here
