Volumes jump 16 percent
SAN PEDRO, Calif. The Port of Los Angeles processed 725,059 Twenty-Foot Equivalent Units (TEUs) in February, the busiest February in the port’s 111-year history. Volumes jumped 16 percent compared to last February. Two months into 2018, overall volumes have increased 5.6 percent compared to 2017, which was the Port’s best year ever.
The surge in February volumes is due in part to the Lunar New Year, which fell later this year. Shippers moved cargo ahead of the holiday celebrated in Asia and thus March volumes are expected to be lighter this year with the advance shipments coming in February.
“In recent weeks, I’ve had the privilege of addressing the outstanding men and women of International Longshore Warehouse Union Locals 13, 63 and 94 to thank them for their critical role in making the Port of Los Angeles the busiest trade gateway in the Western Hemisphere, said Port of Los Angeles Executive Director Gene Seroka. “With this strong start to 2018, I’m equally grateful to all of our supply chain partners who have helped us in our ongoing quest to optimize efficiency through world-class infrastructure, innovative technology solutions and extraordinary customer service.”
February 2018 imports increased 28.1 percent to 383,089 TEUs compared to the previous year. Exports increased 1.4 percent to 157,591 TEUs while empty containers increased 7.8 percent to 184,378 TEUs. Combined, February overall volumes were 725,059 TEUs, a 16 percent increase compared to last year.
|Calendar Year 2018
|Fiscal Year 20184||6,394,432.40||6,175,227.60||219,204.80||3.55%|
1TEUs = Twenty-foot equivalent units, a standardized maritime industry measurementused when counting cargo containers of varying lengths.
2Inbound = Imported containers.
3Outbound = Exported containers.
4Fiscal Year = July 1, 2017 through June 30, 2018.