Port of LA Ends 2023 with Five Straight Months of YoY Growth

The Port of Los Angeles announced January 16 that it finished 2023 with five consecutive months of year-over-year gains. The Port also said that it processed 747,335 more TEUs in 2023 than it did in 2022, a 2.5% increase.

The Port of Los Angeles ended up handling roughly 8.6 million TEUs in 2023, a 13% drop off when compared to 2022.

Despite a national decline in trade rates, the Port of Los Angeles maintained its position as the U.S.’s busiest container port for the 24th year in a row.

During December, loaded imports came in at about 369,500 TEUs, a 5% increase from the previous year. Loaded exports landed at 121,575 TEUs, a 26% increase from 2022. Empty containers that landed at the port topped out at 256,283 TEUs, an 8.5% decrease from 2022.

“In 2024, our sights are set on community investment, sustainability progress and capturing additional market share,” said Gene Seroka, the executive director of the Port of Los Angeles. “To drive cargo, we’re investing in a 10-year, $2 billion capital improvement program. We’ll also focus on secure technology enhancements to improve efficiency and reduce our carbon footprint. All that leads to additional jobs and the Port’s ability to re-invest more dollars back into our communities.”

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• Source: https://www.supplychainbrain.com/articles/38862-port-of-la-ends-2023-with-five-straight-months-of-yoy-growth