The Port of Los Angeles saw improvements in container volumes for the second consecutive month in April, reflecting a 22% decrease from the same period last year, which marked the second-best April for the port. The first four months of 2023 saw the port’s handling capacity decrease 29% from 2022’s record pace, with figures remaining 14% below pre-pandemic 2019 levels. A decline in the global economy, extended labour negotiations on the West Coast, and ageing inventory stock have all contributed to the slowdown in trade.
Loaded imports in April 2023 reached 343,689 TEUs, a decrease of 25% from the previous year, while loaded exports were down 12% year-on-year, at 88,202 TEUs. Empty containers landing amounted to 256,220 TEUs, reflecting a 23% decrease from 2022’s figures. The executive director of the Port of Los Angeles, Gene Seroka, stated that an improvement in the economy, coupled with successful labour contract negotiations, could lead to increased volume in H2 2023, with the port anticipating the next cargo surge. Compared to March 2023 figures, freight volumes saw a 10% increase in April, while comparing March and February of 2023 showed a considerable 28% rise in cargo volumes.
Tags: Port of Los Angeles