Ports of LA and Long Beach Set New TEU Records as Imports Soar

File image courtesy Port of Long Beach

Published Oct 18, 2024 2:31 PM by The Maritime Executive

 

Thanks to labor disruption at U.S. East Coast ports and strong retail ordering in the runup to the holiday season, the twin ports of Los Angeles and Long Beach have both posted their busiest quarters ever, as well as all-time highs for the month of September. 

The level of activity continued last month, Long Beach's busiest September ever. Longshoremen and terminal operators moved 829,499 TEU last month, just a hair over the previous record of 829,429 TEU set in September 2023. (August was even busier, with an all-time port record of more than 910,000 TEU.)  

Even though the port has been busy, it still has ample capacity to handle America's demand for East Asian consumer goods, officials say.

"We have plenty of room across our terminals as the peak shipping season drives a record amount of cargo through this critical gateway for trans-Pacific trade," said Port of Long Beach CEO Mario Cordero. "We are anticipating continued growth through the rest of the year as retailers stock the shelves for the winter holidays."

Loaded import containers - primarily on the transpacific trade lanes - made up more than half of Long Beach's volume in September. Loaded export boxes accounted for just over 10 percent of the total, and outbound empties made up the balance. 

Full import and outbound empty containers were responsible for all of the port's gains in performance over the year to date, up 25 percent and 30 percent respectively (year-on-year). Loaded exports dropped by 12 percent over the same period. 

Next door, the Port of Los Angeles handled a record 954,706 TEU in September, a 27% increase over the previous year, and a record 2,854,904 TEU in the last three months. Nine months into 2024, the Port of Los Angeles' volume is 18% higher than during the same period last year. 

Consumer confidence is a primary driver of the San Pedro Bay ports' performance, and it remains strong in the United States, according to the National Retail Federation. The NRF predicts that winter holiday spending will increase by as much as 3.5 percent this year, reaching just shy of a trillion dollars, thanks to a strong economy. 

"The winter holidays are an important tradition to American families, and their capacity to spend will continue to be supported by a strong job market and wage growth," said NRF President and CEO Matthew Shay. "The economy remains fundamentally healthy and continues to maintain its momentum heading into the final months of the year."