Sunday, March 26, 2023
HomeHeadlinesPort Of Los Angeles Headed To Record Cargo Year

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Port Of Los Angeles Headed To Record Cargo Year

The Port of Los Angeles is on track to break a new record for cargo throughput in 2021, processing more volume than any port in the Western Hemisphere. With two weeks left in the year, the Port anticipates its final volume will be approximately 10.7 million Twenty-Foot Equivalent Units (TEUs), about 13 percent more than its previous record set in 2018.

“As we approach a new cargo milestone amid this pandemic, I’m so proud of the resilience of this Port, our labor force and all of our partners,” said Port of Los Angeles Executive Director Gene Seroka. “While there is much more that we need to improve upon, we’re delivering record amounts of cargo and goods are making their way into the hands of consumers and manufacturers.

“Moving into 2022,” Seroka added, “we’ll continue our focus on efficiency improvements, job creation and economic development.”

Overall November cargo volume dipped 8.8 percent to 811,460 TEUs compared to last year. Half of the 86 container vessels that arrived in November carried less than 5,300 TEU capacity. Smaller vessels can take nearly as long to process as larger ones and was a contributing factor in the year-over-year monthly decline.

November imports landed at 403,444 TEUs, a 13.2% decline compared to the previous year. Overall, however, 2021 imports are on track for an all-time record of about 5.5 million TEUs, 13% higher than the 2018 import record.

Loaded exports dropped 36.8% to 82,741 TEUs compared to 2020. Exports have declined in 33 of the last 37 months.

Empty containers, in high demand for Trans-Pacific transit back to Asia, increased to 325,275, a rise of 10.6% compared to a year ago.

Eleven months into 2021, the Port has processed 9,891,021 TEUs, 18.7% more than the same time last year.

Related Posts

Video

Finance & Economy
Shipping News
Ports

Eva Birgitte Bisgaard steps down as chief commercial officer at Maersk Tankers

Eva Birgitte Bisgaard is stepping down from her role as chief commercial officer at Maersk Tankers. Christian M. Ingerslev, chief executive officer of Maersk Tankers,...

Frontline’s Fredriksen appointed to Euronav supervisory board

Belgium’s Euronav said its shareholders had overwhelmingly voted to elect John Fredriksen of peer Frontline, a major investor that pulled out of a merger...

UBS Likely to Shrink Credit Suisse’s $10 Billion Shipping Portfolio – Report

UBS Group AG will likely shrink Credit Suisse Group’s $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday,...

Braemar: Record revenue & profitability

Braemar Plc., a provider of expert investment, chartering, and risk management advice to the shipping and energy markets, announced an update on trading...

Oldendorff Carriers announces change of leadership

Effective today, the board of OLDENDORFF CARRIERS has appointed Patrick Hutchins as the new President and CEO of the company. Patrick succeeds Peter Twiss, who...

Global Goods Trade Softening from 2022’s Record Level

International commerce soared to a record of $32 trillion in 2022, but goods trade...

New Hybrid Ferry ‘P&O Pioneer’ Docks At DP World Limassol For Bunkering

P&O Ferries’ newly commissioned Fusion Class vessel ‘P&O Pioneer’ has docked at DP World...

Baltic index gains as capesize rates rebound

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Minerva puts cost of fuel theft as high as $5.2 bil/year

The bunkering industry is losing as much $5.2 billion of fuel annually to quantity...

Baltic index logs worst day in five weeks on tepid demand for larger vessels

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Drewry: Port Throughput Index Down 4.5% Year-on-Year

The Drewry Container Port Throughput Indices are a series of calendar adjusted volume growth/decline indices based on monthly throughput data for a sample of...

Port of Los Angeles moves 487,846 container units in February

The Port of Los Angeles processed 487,846 Twenty-Foot Equivalent Units (TEUs) in February, a 43% decrease from the previous February’s all-time record. “February declines were...

Piraeus Port Authority: Strong growth in 2022

PPA S.A. announced Full Year 2022 financial results, marking a consecutive year of growth with a turnover of €194.6 million compared to €154.2 million...

WLP welcomes 14 strategic Vietnamese partners to its growing network of international traders

World Logistics Passport (WLP), a Dubai-led global initiative designed to smooth the flow of world trade, has welcomed 14 Vietnamese partners to its global...

Port of Hedland February Iron Ore Exports 2% Down

Pilbara Ports Authority has delivered a total monthly throughput of 54.8 million tonnes (Mt) for February 2023. This throughput was a five per cent increase...