THE ports of Los Angeles and Long Beach both reported a strong start to 2024 highlighting the belief the ports are recovering from the downturns in the economy, reports Fort Lauderdale's Maritime Executive.
The Port of Los Angeles called January 2024 a 'great start' with what it termed 'impressive' results both for its import and export volumes.
January 2024, they said, was the port's second-best January on record, falling short only of January 2022 which was during the peak surge in volumes in the pandemic.
Long Beach reported a decline in exports however by 18 per cent, but an overall gain in volume of 17.5 per cent. Imports increased 23.5 per cent to more than 325,000 TEU.
Executives at both the ports highlighted a strong and early restocking effort as helping to drive import volumes.
Cargo owners are actively replenishing said the Port of Los Angeles while the Port of Long Beach said that retailers stocked their warehouses in January ahead of the typical slowdown around Chinese New Year.
Los Angeles also pointed to the strength of the US economy and anticipated consumer demand which they believe will continue to fuel growth in volumes.
As for diversions from the Red Sea and the reduction in transits at the Panama Canal, Los Angeles' executive director Gene Seroka said these issues were driving volume growth.
The Port of Los Angeles reported its sixth consecutive month of year-on-year gains in total volume with an 18 per cent overall increase versus January 2023.
Imports were up 19 per cent to nearly 442,000 TEU and exports increased 23 per cent to more than 126,000 TEU.
'It was the eighth consecutive month of year on year gains in exports,' said Mr Seroka. He called the performance a 'welcome rebound after more than two years of very low export volumes.'
Long Beach reported a decline in exports however by 18 per cent, but an overall gain in volume of 17.5 per cent. Imports increased 23.5 per cent to more than 325,000 TEU.
Said Port of Long Beach CEO Mario Cordero: 'We are ready to grow our volumes and hope to see continued growth through 2024 as we gradually recapture market share.'
Mr Seroka told reporters during his monthly briefing that he expects 'robust volume in February,' forecasting more than 700,000 TEU.
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The Port of Los Angeles called January 2024 a 'great start' with what it termed 'impressive' results both for its import and export volumes.
January 2024, they said, was the port's second-best January on record, falling short only of January 2022 which was during the peak surge in volumes in the pandemic.
Long Beach reported a decline in exports however by 18 per cent, but an overall gain in volume of 17.5 per cent. Imports increased 23.5 per cent to more than 325,000 TEU.
Executives at both the ports highlighted a strong and early restocking effort as helping to drive import volumes.
Cargo owners are actively replenishing said the Port of Los Angeles while the Port of Long Beach said that retailers stocked their warehouses in January ahead of the typical slowdown around Chinese New Year.
Los Angeles also pointed to the strength of the US economy and anticipated consumer demand which they believe will continue to fuel growth in volumes.
As for diversions from the Red Sea and the reduction in transits at the Panama Canal, Los Angeles' executive director Gene Seroka said these issues were driving volume growth.
The Port of Los Angeles reported its sixth consecutive month of year-on-year gains in total volume with an 18 per cent overall increase versus January 2023.
Imports were up 19 per cent to nearly 442,000 TEU and exports increased 23 per cent to more than 126,000 TEU.
'It was the eighth consecutive month of year on year gains in exports,' said Mr Seroka. He called the performance a 'welcome rebound after more than two years of very low export volumes.'
Long Beach reported a decline in exports however by 18 per cent, but an overall gain in volume of 17.5 per cent. Imports increased 23.5 per cent to more than 325,000 TEU.
Said Port of Long Beach CEO Mario Cordero: 'We are ready to grow our volumes and hope to see continued growth through 2024 as we gradually recapture market share.'
Mr Seroka told reporters during his monthly briefing that he expects 'robust volume in February,' forecasting more than 700,000 TEU.
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