PORT OF LOS ANGELES MAY CARGO VOLUME ‘STRONG, CONSISTENT’ AT 753,000 CONTAINER UNITS
White House Economist Jared Bernstein Joins Media Briefing to Discuss Economic Outlook, Supply Chains
June 12, 2024 – The Port of Los Angeles processed 752,893 Twenty-Foot Equivalent Units (TEUs) in May. While that represents a slight 3% decline over last May, overall cargo volume remains 18% ahead of 2023 after five months.
“We continue our trend of strong, consistent volume that started at the beginning of the year,” Port of Los Angeles Executive Director Gene Seroka told reporters at a Wednesday media briefing. “As we gear up for the second half of the year, our forecast indicates more robust activity on our docks throughout the summer.”
Seroka said he’ll be traveling to Taiwan and China next week for meetings related to increasing cargo volume and reducing the Port’s carbon footprint. The ports of Los Angeles and Long Beach will co-sponsor a China-U.S. Green Shipping Corridor in Shanghai, gathering with port leaders and other stakeholders to establish a global trade route to Southern California that uses low- and zero-carbon vessel fuels.
“More cargo. More jobs. And decarbonizing global trade,” Seroka added. “That’s our objective now, and into the future.”
Jared Bernstein, Chair of the United States Council of Economic Advisers, joined the Port’s media briefing. Bernstein is responsible for providing economic advice to President Biden in order to help formulate domestic and foreign policy.
Bernstein offered his view on the economic outlook, as well as the profound influence of ports and supply chains on the economy.
May 2024 loaded imports landed at 390,663 TEUs, a 4.5% decline compared to the previous year. Loaded exports came in at 125,963 TEUs, an increase of 24% compared to last year. May marked the 12th consecutive month of year-over-year export gains.
The Port processed 236,268 empty containers, a 12% decrease compared to 2023.
Bernstein offered his view on the economic outlook, as well as the profound influence of ports and supply chains on the economy.
May 2024 loaded imports landed at 390,663 TEUs, a 4.5% decline compared to the previous year. Loaded exports came in at 125,963 TEUs, an increase of 24% compared to last year. May marked the 12th consecutive month of year-over-year export gains.
The Port processed 236,268 empty containers, a 12% decrease compared to 2023.
Current and historical cargo data, including fiscal year-end totals, are available here.