The total number of containers shipped through the Port of Los Angeles in August increased by six percent compared to July, the second consecutive month that volumes have risen at the Port amid a slumping economy.
The total number of Twenty-Foot Equivalent (20-foot containers or TEUs) imported and exported through the Port of Los Angeles in August was 612,581, a six percent rise compared to 576,203 TEUs in July. In June, total container volume at the Port was 551,679 TEUs.
August container volumes, which reflect a muted peak shipping season, are the Port’s highest this calendar year. By comparison, August 2008 container volume was 19 percent higher, mostly due to a 2008 peak shipping season that came prior to the economic meltdown that hit in September 2008.
Year to date in 2009, total TEU volume is at 4,374,818, 18.3 percent lower compared to the same eight-month period in 2008.
A long-term forecast prepared by the Tioga Group for the Port of Los Angeles earlier this year indicates that the recession and its effect on international container trade are expected to level out in late 2009, with modest growth returning in 2010.
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates 919,000 regional jobs and $39.1b in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars.