LA's October box volume sets new record in the port's 144-year history
OCTOBER marked the busiest month in the Port of Los Angele' 114-year history with the hub port processing 980,729 TEU propelled by replenishment of inventories and retailers preparing for upcoming holidays, although trade imbalance remains a concern
OCTOBER marked the busiest month in the Port of Los Angele' 114-year history with the hub port processing 980,729 TEU propelled by replenishment of inventories and retailers preparing for upcoming holidays, although trade imbalance remains a concern.
The throughput in October was an increase of 27.3 per cent compared to the same month last year. The performance eclipsed the previous single month record of 961,833 TEU, set in August of this year.
Loaded imports at the port reached 506,613 TEU while loaded exports came in at 143,936 TEU. Empty containers reached 330,180 TEU.
Year to date, overall cargo volumes at the port lag by 5.3 per cent compared to 2019, according to Fruitnet.com , London.
'Overall volume has been strong, yet the trade imbalance remains a concern,' said Port of Los Angeles executive director Gene Seroka.
'For every three and a half containers that are imported into Los Angeles from abroad, only one container leaves filled with US exports. One-way trade will not put Americans back to work and it adds logistical challenges to the supply chain.'
Mr Seroka noted at the start of the Covid-19 pandemic that significant supply chain swings would occur. He said there could be more ahead.
'With Covid-19 cases on the rise nationwide, the US economic outlook remains uncertain,' he said. 'Volume swings like the one we are seeing are an outgrowth of this uncertainty. We are using Port Optimizer data and the expertise of our supply chain partners to prepare for a range of scenarios to respond to market demands in the months ahead.'