Port of Los Angeles Volumes Surge
The Port of Los Angeles handled 713,721 twenty-foot equivalent units (TEU) in February 2016, an increase of 42 percent compared to the previous year. It was the busiest February in the Port’s 109-year history and comes on the heels of its best January volumes.
February 2016 imports surged 46.6 percent to 372,744 TEU compared to the previous year. Exports increased 11.1 percent to 146,488 TEU in February. Total loaded imports of 519,233 TEU increased 34.5 percent compared to the previous year. Empty containers increased 66.7 percent to 194,487 TEU. Combined, February overall volumes totaled 713,721 TEU, a 42 percent increase compared to last year.
“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 Gene Seroka, executive director of the Port of Los Angeles.
February volumes were buoyed in part by U.S. importers bringing in products from Asia ahead of the Lunar New Year, which began February 8 and slowed production for several weeks in China. 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.
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