The Port of Los Angeles saw a fourth month of growing cargo numbers in November, officials announced on Wednesday, Dec. 13.
The Port of Long Beach on Wednesday also reported a rise in cargo during November.
“(November) was another very good month at the Port of Los Angeles,” Executive Director Gene Seroka said at his monthly virtual news conference, winding up a year that began with sluggish numbers.
Last month’s cargo numbers represented a 19% jump over November 2022 at the Port of L.A., Seroka said, estimating that the year-end cargo figures for this year will land at around 8.6 to 8.7 million twenty-foot equivalent units, or TEUs, the measurement used by the industry. That would be about a 12% drop from the stronger numbers seen in 2022, he added.
In raw numbers, the Port of L.A. processed 763,262 TEUs in November.
“We see the volume (going into 2024) continuing in an uptick,” Seroka said, noting the year has been challenging and adding that the year “started off very slow.”
While 2024 shipments will temporarily slow as expected in February because of the Lunar New Year, which will see weeklong factory and shipping holiday slowdowns in China and other main trading partners. But, Seroka said, he anticipates the steady growth to continue after that as the spring fashion season and summer purchases heat up.
And the first weeks of the new year, Seroka said, will see a push of inventory coming in before the Lunar New Year arrives.
The Port of Long Beach, meanwhile, reported a 24.2% increase this November over November 2022. It was that port’s third consecutive month for cargo increases. The port moved 731,033 TEUs in November.
“We are recapturing market share, online shopping is on the rise and retailers are keeping the shelves stocked to meet rising consumer demand for the holidays,” Port of Long Beach CEO Mario Cordero said in a written statement. “We remain optimistic as cargo returns to this critical gateway for trans-Pacific…
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