Shipping
PORT OF LA REPORTS ANOTHER RECORD MONTH IN FEBRUARY AMID SUPPLY CHAIN WOES
March 16, 2022
The Port of Los Angeles (Port of LA) reported another record month in February with volumes continuing to increase despite persisting supply chain woes impacting the shipping industry.
The port processed 857,764 Twenty-Foot Equivalent Units (TEUs) in February, a 7.3% increase compared to volumes recorded during the same period last year.
Port of LA said it was the Port's busiest February in its 115-year history and represents back-to-back record months to begin 2022.
"The combined efforts of dockworkers, terminal operators, and our waterfront partners have improved fluidity and productivity," said Gene Seroka, Port of LA executive director. "Since November, we've been able to increase the number of containers leaving our docks by 16%."
During a press briefing, Seroka noted that the port is trying to clear up the docks in preparation for more cargoes coming in.
"We're taking advantage of the temporary lull in ship arrivals due to the Lunar New Year production slowdown in Asia to prepare for another wave of imports," Seroka said. "We expect an increase in those vessel arrivals soon as retailers begin to replenish their low inventories."
Seroka announced the February data during a virtual media briefing, where he was joined by Dee Dee Meyers, director of the California Governor's Office of Budget and Economic Development (GO-Biz).
In the event, Myers outlined California's planned record investment of US$2.3 billion for California ports in the state's upcoming budget.
Meanwhile, for the period, loaded imports reached 424,073 TEUs compared to the previous year, an increase of 2.7%. Loaded exports came in at 95,441 TEUs, a 5.7% decrease compared to the same period last year.
Exports have now declined 36 of the last 40 months in Los Angeles.
Nonetheless, Port of LA said empty containers climbed to 338,251 TEUs, a jump of 18.6% compared to last year due to the continued heavy demand in Asia.
Two months into 2022, overall cargo volume at North America's busiest seaport has reached 1,723,360 TEUs, a 5.4% increase compared to 2021.
