The Port of Los Angeles set a new record in July, handling an unprecedented 939,600 Twenty-Foot Equivalent Units (TEUs), reflecting a 37% increase compared to the same month last year. This made it the busiest July in the port’s 116-year history and the most active month in over two years.
As of the first seven months of 2024, the port’s total volume is 18% ahead of its 2023 pace.
Gene Seroka, Executive Director of the Port of Los Angeles, explained during a media briefing, “We’ve seen an influx of year-end holiday goods arriving earlier than usual to avoid any risk of delays later in the year.” He noted that items like toys, electronics, and clothing are arriving alongside typical back-to-school, fall fashion, and Halloween merchandise. “An early peak season has helped to boost volumes here in Los Angeles,” Seroka added.
Paul Bingham, an economist and data analyst at S&P Global Intelligence, also spoke at the briefing, highlighting factors affecting the supply chain, such as East Coast dockworker negotiations, Red Sea cargo diversions, and the potential for additional tariffs, all of which have prompted shippers to accelerate their cargo arrivals this year.
In July 2024, loaded imports at the Port of Los Angeles reached 501,281 TEUs, a 38% increase from the previous year. Loaded exports totaled 114,889 TEUs, up 4% year-over-year, marking the 14th consecutive month of export gains for the port. The port also processed 323,431 empty containers, a 54% increase compared to 2023.
In total, the Port of Los Angeles moved 5,671,091 TEUs in the first seven months of 2024, reflecting an 18% growth over the same period in 2023.
Next door, the Port of Long Beach also experienced a surge in import volumes, recording its busiest July ever and its third-busiest month on record as retailers geared up for the peak shipping season. In July, dockworkers and terminal operators at Long Beach handled 882,376 TEUs, a remarkable 52.6% increase from July 2023, surpassing the previous record set in July 2022 by 12.4%. Imports at Long Beach soared 60.5% to 435,081 TEUs, while exports grew 16.3% to 104,834 TEUs.
This followed a record-setting June for the Port of Long Beach, where 842,446 TEUs were processed, up 41.1% from June 2023, breaking the previous record.
Meanwhile, the Port of Los Angeles handled 827,757 TEUs in June, marking a 10% increase over the previous month and nearly matching the volume of June 2023, which was the port’s best month last year. Loaded imports in June 2024 at Los Angeles totaled 428,753 TEUs, a slight 1.5% decrease compared to the previous year.
According to the National Retail Federation (NRF), U.S. imports are expected to remain significantly higher than last year’s volumes for the rest of 2024. The NRF forecasts total U.S. container imports to reach 24.9 million TEUs by the end of the year, up 12.1% from 2023, making 2024 the third-highest year for U.S. import volumes after 2022 and 2021.
