In June, the Port of Los Angeles processed a significant 827,757 Twenty-Foot Equivalent Units (TEUs), reflecting a 10% increase from the previous month and a slight decrease of less than 1% from June 2023, the Port’s best month last year. Six months into 2024, the Port is 14% ahead of its performance from the previous year.
Steady and Efficient Operations
Gene Seroka, Executive Director of the Port of Los Angeles, praised June as a great month, marking the end of an exceptional first half of the year. He emphasized the consistent cargo volume and efficiency in terminal operations over the past six months.
Economic Drivers and Future Outlook
Seroka attributed the cargo volume primarily to the U.S. economy and anticipated continued growth. He highlighted the Port’s ample dock capacity to handle increased goods as retailers and e-commerce outlets start moving fall fashion, Halloween, and holiday items through the supply chain.
Industry Insights
Matt Priest, President and CEO of the Footwear Distributors and Retailers of America, representing 95% of U.S. footwear sales, joined the media briefing. He discussed supply chain factors and how retailers are preparing for the holiday season.
Import and Export Trends
June 2024 saw loaded imports at 428,753 TEUs, a 1.5% decrease from the previous year. However, loaded exports increased by 13% to 122,515 TEUs, marking the 13th consecutive month of year-over-year export gains. The Port processed 276,489 empty containers, a 4.5% decrease from 2023.
Mid-Year Performance
Overall, the Port has moved 4,731,491 TEUs in the first six months of 2024, a 14% increase over the 2023 figure of 4,137,379 TEUs.
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Source: Port of Los Angeles
