Port of Los Angeles Handles Record Cargo Volumes in July
The Port of Los Angeles handled nearly 940,000 twenty-foot-equivalent units (TEUs) of cargo in July, marking the highest total in that month for the port in its 116-year history.
According to an August 13 briefing, the port also saw a 37% year-over-year increase in TEUs, and in the first seven months of the year is 18% ahead of its cargo volume pace for 2023. Port of Los Angeles executive director Gene Seroka credits the increase to "an influx of year-end holiday goods" arriving earlier than usual, with shippers accounting for the possibility of delays brought on by an anticipated strike at East and Gulf Coast ports in the fall.
“These goods – think toys, electronics and clothing – are arriving at the same time as more typical back-to-school, fall fashion and Halloween merchandise," Seroka said. "An early peak season has helped to boost volumes here in Los Angeles."
Staring down the looming threat of a work stoppage at East/Gulf Coast ports, retailers have opted for earlier shipping schedules in 2024, with many pivoting to West Coast ports in the interim. In June, West Coast ports handled more than half of the U.S. cargo tracked by the National Retail Federation (NRF) for the first time in three years. The NRF projects a 19.2% year-over-year increase in total TEUs at U.S. ports overall n August as the early peak shipping season continues.
The International Longshoremen's Association (ILA) is currently planning a two-day "marathon session" September 4-5, where it will prepare its members for a strike that could arrive as early as October 1. Negotiations between the ILA and the United States Maritime Alliance (USMX) have been on hold since June, after the union raised concerns over automated systems being used at a handful of ports.
