Posted on November 27, 2023
Cargo volumes at the Port of Los Angeles rose 7% year over year to 725,775 TEUs in October, marking the third consecutive month that volumes have increased compared to 2022.
From August to October, the San Pedro Bay ports have increased their market share of U.S. containerized imports from Asia to 46% from last year’s 42%, Port of Los Angeles Executive Director Gene Seroka said in a Friday media briefing.
Another sign growth is coming back to the Port of Los Angeles is the comeback of an expedited ocean service from Zim Integrated Shipping Services. The ocean carrier is relaunching its 12- and a half-day service from South China direct to Los Angeles which was suspended back in March due to low demand, Seroka said in the briefing.
The port’s loaded exports also continue to grow, with a 35% YoY increase in October — showing a five-consecutive month of rising cargo.
“Considering this year’s light peak season, October was a good month,” Seroka said.
Despite the increase, the port’s volumes decreased month-over-month, with September total volumes reaching 748,440 total TEUs. According to Seroka, the beginning of the year was impacted by protracted labor negotiations and the port has been “picking up the pace with a lot of cargo after that.”