The Port of LA saw another record month in July.
SAN PEDRO, Calif. – The Port of Los Angeles processed an estimated 935,345 twenty-foot equivalent units (TEUs) in July, outpacing the previous record set in 2019 by 2.5%. The port has set monthly records in five of seven months in 2022.
“Remarkably, we continue to move record amounts of cargo while working down the backlog of ships almost 90%, a huge accomplishment by all of our partners,” Port of Los Angeles Executive Director Gene Seroka said at a news briefing last week. “Even with the current rail challenges, our marine terminals are more fluid than last year.”
But despite another record, Seroka thinks a slowdown is imminent.
“Imports will begin easing somewhat,” he said. “I expect to see that reflected in our August cargo numbers. China factory orders are slowing and some retailers continue to have elevated inventories. You’ll start to see a tapering of some imports, specifically the commodities that won’t be repeatedly purchased every year: appliances, fixtures, furniture, sporting goods.”
Seroka noted that the Southern California supply chain landscape has improved, noting ships are now waiting for space at many other ports around the country.
“Our terminals have capacity,” Seroka added. “For cargo owners looking to re-chart their course, come to Los Angeles. We’re ready to help.”
July 2022 loaded imports reached an estimated 485,472 TEUs compared to the previous year, an increase of 3.4% and 8% higher than the previous five-year June average.
Loaded exports reached an estimated 103,497 TEUs, a 13% increase compared with the same period last year. Empty containers reached an estimated 346,376 TEUs, an increase of 5% compared to last year.
The Port of LA is the busiest seaport in the Western hemisphere.