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Despite an overall YoY decline, the Port of Los Angeles reports significant cargo volume gains in recent months.
The Port of Los Angeles reported its best performance since July of the previous year, having moved 833,035 Twenty-Foot Equivalent Units (TEUs) in June. The Executive Director, Gene Seroka, pointed out that cargo volume had risen by an impressive 70% since February, marking four consecutive months of gains. While a slight easing in cargo is expected in July, Seroka expresses optimism for improved performance in the latter half of 2023. However, in the first half of 2023, the Port handled 4,137,379 TEUs, marking a 24% decline in comparison to the same period the previous year.
Source: Port of Los Angeles
The Port of Los Angeles saw its strongest month of activity in a year in June, which port executives linked to the resilient economy and the port workers' tentative labor deal. Read what U.S. Secretary of Labor Julie Su said about the negotiations. https://t.co/DqKW5H87Q6
— L.A. Business First (@LABusinessFirst) July 13, 2023
The Port of Los Angeles hit record volumes in July as shippers raced to beat tariff deadlines
Tariff pressure shifts freight to major U.S. ports as importers turn to supply chain finance. Smaller ports and key sectors face mounting strain.
Port of Los Angeles sets June cargo record amid tariff-driven frontloading, with forecasts warning of steep drop post-August.
Port of Los Angeles cargo volumes fell 5% in May due to rising tariffs.
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