Cargo volume increased at the Port of Los Angeles during May 2023, marking the third consecutive month that the port’s cargo volumes have risen.
The Port of Los Angeles handled 779,140 Twenty-Foot Equivalent Units (TEUs) during May 2023, a 60% increase since February 2023. However, the port has seen its handling rates fall by 19% when compared to May 2022.
Loaded imports during May 2023 topped out at 409,150 TEUs, an 18% year-on-year drop-off. Loaded exports were also down 19% year-on-year during May 2023 after coming in at 101,741 TEUs. The number of empty containers that landed at the Port of Los Angeles came out to 268,249 TEUs, a 22% decrease compared to May 2022.
Overall, through the first five months of 2023, the port has handled 3,304,344 TEUs, a 27% year-on-year decline. So far, during the 2022-23 fiscal year, the total number of TEUs handled at the port is down over 20% year-on-year.
Even though cargo volume has improved in recent months, Port of Los Angeles executive director Gene Seroka said that the terminals “are a long way from working at full capacity” during a June 13 media briefing. “We’re starting to see more vessels headed across the Pacific to Los Angeles, an encouraging sign for the second half” of 2023 he added.
