November Port of Los Angeles (POLA) and Port of Long Beach (POLB) continued the ports’ strong runs of volume growth, according to data respectively offered by the ports this week.
POLA reported that total November volume, at 884,315 TEU (Twenty-Foot Equivalent Units), increased 16% annually, snapping a four-month stretch of monthly volumes topping the 900,000 TEU mark.
November imports, at 458,165 TEU, increased 19% annually, and exports, at 124,117 TEU, headed up 11% annually. Empty containers, at 302,033 TEU, were up 13%. On a year-to-date basis through November, POLA volumes, at 9,375,735 TEU, are up 19% compared to the same period a year ago.
On a media call yesterday, POLA Executive Director Gene Seroka said that the flow of cargo into the port remained strong in November.
“The key driver of this growth is the underlying strength of our nation’s economy, which continues to boost consumer spending,” he explained, adding that November’s volume came in 15% above the port’s five-year running average for the month of November.
Addressing exports, he said that even with 11% annual growth in November, there is still more room to run to boost exports, with POLA making a considerable effort on that front. To that end, he explained how he met with Secretary of Agriculture Tom Vilsack to discussed strategies with growers and ranchers, among others, to expand U.S. exports through the port.
Looking at empties, Seroka said that the 13% annual increase in November serves as an indication that there are more imports on the way.
“We are tracking 19% ahead of 2023 and 7% above that all important five-year average [for total volume],” said Seroka. That puts us well on pace to exceed 10 million TEU for only the second time in our proud 117-year history.”
POLB data: The Port of Long Beach reported that total November volume, at 884,154 TEU, increased 20.9% annually, marking POLB’s highest-volume November tally on record, topping the previous November high set in 2020 by 12.8%. This represents the sixth straight month of annual gains.
November imports, at 432,823 TEU, rose 21.8% annually, with exports, at 119,083, up 9.5% annually. Empty containers, at 322,250 TEU, headed up 24.5% annually.
“Imports are being driven by strong consumer demand while retailers continue to move cargo here out of concern for labor negotiations at ports on the East and Gulf coasts,” said Port of Long Beach CEO Mario Cordero. “We will continue to handle this influx of cargo smoothly and with zero disruptions through the end of 2024.”
On a year-to-date basis through November, total POLB volume is up 20.2% annually, at 8,788,718 TEU. POLA officials said that the port of on track to hit 9.5 million TEU in 2024—minus congestion or other disruption—which would surpass the current calendar year record set in 2021, during the pandemic.
