Cargo volume at the San Pedro Bay Complex has continued its downward trend — but the cruise industry at the Port of Los Angeles is experiencing a post-pandemic revival.
That was the message Thursday, Feb. 16, during POLA Executive Director Gene Seroka’s monthly press conference. Appearing with him this month was John Padgett, president of Princess Cruises, which plans to expand operations in the Port of Los Angeles.
The port had 229 cruise calls last year and expects that number to grow following a near shutdown of the industry during the pandemic.
Cargo numbers, meanwhile, continue to lag.
“As expected, January was soft,” Seroka said of the last month’s cargo volumes that totaled 726,014 twenty-foot equivalent units, the industry measurement standard.
That’s 16% off last year’s record pace for the same month, Seroka said.
Specifically, imports sank by 13% compared to January 2022, he added. But exports experienced a “mini-bump” — with January’s total 2.5% more than the same month last year.
“But (exports are) still 22% off” the port’s five-year average, Seroka said.
The Port of Long Beach also reported continued cargo dips in January, with dockworkers and terminal operators moving 573,772 TEUs, down 28.4% from the same month last year, which was also that port’s busiest January on record.
Imports decreased 32.3% and exports declined 14.2% in Long Beach. The downturn there was attributed to “softened consumer spending, increased prices driven by inflation and a shift in trade routes.”
At the Port of Los Angeles, compared to January 2022 — the port’s “best start ever” — “a lot has changed,” Seroka said.
“We expect softer global trade throughout the first quarter,” he said, “particularly compared to last year’s record-breaking start.”
Factories in Asia, he said, have had extended Lunar New Year closures, while warehouses here are still full, prompting retailers to offer discounts. The uncertain economy…
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