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Wednesday, October 18, 2017

Port of LA Volumes Surge in February

March 11, 2016

File photo: Port of Los Angeles

File photo: Port of Los Angeles

The Port of Los Angeles handled 713,721 Twenty-Foot Equivalent Units (TEUs) in February 2016, an increase of 42 percent compared to the previous year, making for the busiest February in the port’s 109-year history. February’s volume surge follows on the heels of the port’s best every January volumes.
 
“Back to back record months to start 2016 indicate consumer confidence in the U.S. economy and strong shipper confidence in our terminal and supply chain partners to deliver on speed and efficiency,” said Port of Los Angeles Executive Director Gene Seroka. 
 
February 2016 imports surged 46.6 percent to 372,744 TEUs compared to the previous year. Exports increased 11.1 percent to 146,488 TEUs in February. Total loaded imports of 519,233 TEUs  increased 34.5 percent compared to the previous year. Empty containers increased 66.7 percent to 194,487 TEUs. Combined, February overall volumes totaled 713,721 TEUs, a 42 percent increase compared to last year.
 
February volumes were buoyed in part by U.S. importers bringing in products from Asia ahead of the Lunar Year, which began February 8 and slowed production for several weeks in China. The surge in February deliveries will result in softer import volumes in March. The relatively high value of the U.S. dollar continues to slow U.S. exports due to their relative higher costs abroad.
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