Containerized cargo volumes in February benefited from strong growth in imports that “indicate consumer confidence,” Port of Los Angeles Executive Director Gene Seroka said in a statement.
The Port of Los Angeles handled 713,721 TEUs in February 2016, an increase of 42 percent compared to the previous year, when the port was suffering from congestion during the contentious contract negotiations between the International Longshore and Warehouse Union and its employers.
It was the busiest February in the Port’s 109-year history and comes on the heels of its best January volumes and are similar to the strong volumes reported by the Port of Long Beach last week.
“Back to back record months to start 2016 indicate consumer confidence in the U.S. economy and strong shipper confidence in our terminal and supply chain partners to deliver on speed and efficiency,” said Port of Los Angeles Executive Director Gene Seroka.
The port handled 372,744 TEUs of imports, a 46.6 increase compared with February 2015; 146,488 TEUs of exports, an 11.1 percent increase; and 194,487 TEUs of empty containers, a 66.7 percent year-over-year increase.
“February volumes were buoyed in part by U.S. importers bringing in products from Asia ahead of the Lunar New Year, which began Feb. 8 and slowed production for several weeks in China,” the port said. “The surge in February deliveries will result in softer import volumes in March. The relatively high value of the U.S. dollar continues to slow U.S. exports due to their relative higher costs abroad.”
Port of Los Angeles posts record February throughput
