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PORT OF LA SAYS MAY CARGO IS 'THIRD BEST MONTH ON RECORD"
June 15, 2022
The Port of Los Angeles (Port of LA) said its cargo volumes last May were the "third best" overall month on the port's 115-year history.
North America's busiest container port noted that it processed 967,900 Twenty-Foot Equivalent Units (TEUs) in May.
Five months into 2022, Port of LA said it has processed more than 4.5 million TEUs, equal to last year's record-setting pace.
"Retailers replenished inventory throughout the spring and now we'll see a transition to back-to-school goods, fall fashion, and some early year-end holiday products," said Gene Seroka, Port of Los Angeles executive director.
He noted that while American consumers have become "more cost conscious," overall demand remains strong.
"Meanwhile, we've reached a new productivity milestone on our docks," Seroka said, adding that on average, 12,000 TEUs were discharged and loaded back onto every container vessel in May.
Seroka noted that this eclipsed its previous best-in-the-business record of 11,300 TEUs recorded last summer.
The port said, however, that May's 967,900 TEUs rank only behind May 2021 and October 2020 at the Port of Los Angeles.
Last month, loaded imports at the major gateway reached 499,960 TEUs compared to the previous year, a decrease of 6.8% but 21% higher than the previous five-year May average.
Loaded exports, meanwhile, came in at 125,656 TEUs, a 14.4% increase compared to the same period last year.
Port of LA said May marked the highest level of exports processed at the Port of Los Angeles since November 2020.
Meanwhile, the port noted that empty containers reached 342,285 TEUs, down 6.6% compared to last year.
