Ports Of LA And Long Beach See 18% Container Volume Growth In Jan

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The US West Coast gateway ports of Los Angeles and Long Beach saw a surge in container volumes in January 2023 as retailers restocked inventory ahead the Lunar New Year shutdown in China.

The Port of LA reported that it handled 855,652 teu in January this year up 18% on the same month in 2023.

Two reasons

Port of LA Executive Director Gene Seroka cited two reasons for the strong opening month to 2024.

“First, cargo owners have been replenishing inventories and moving goods at a fast clip ahead of the Lunar New Year holiday, which will slow production in Asia,” he said.

“Second, consumer spending and mostly strong economic data continue to accelerate the American economy.” Seroka said last season’s holiday sales grew nearly 4%, with strong job growth and other key indicators trending in a positive direction.”

Imports increased

Imports at the Port of Long Beach in January increased 23.5% to 325,339 teu and exports were down 18.1% to 86,525 teu.

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Source : Sea trade

 

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