Maritime trade is a vital pillar of the global economy, and the ports of Los Angeles and Long Beach have been at the center of this bustling stage. In September 2023, these two giant seaports on the U.S. West Coast experienced significant rises in cargo volume. Several factors contribute to this growth, including the signing of long-term labor contracts with dockworkers and the demand for goods related to the summer holidays. In this blog post, we will delve into the data and the reasons behind this increase in port activity.
The Port of Los Angeles:
In September 2023, the Port of Los Angeles handled 748,440 TEUs (twenty-foot equivalent units), marking a noteworthy 5.4% increase compared to the same period the previous year, representing the second consecutive month of growth. Notably, the port saw a 14% increase in imports and an impressive 55% surge in exports. The signing of a long-term contract with dockworkers played a crucial role in this success, attracting more cargo to Los Angeles.
Details from the Port of Los Angeles:
In September 2023, the fully loaded containers unloaded in Los Angeles reached 392,608 TEUs, a 14% increase compared to the previous year. On the other hand, fully loaded containers loaded reached 120,635 TEUs, a remarkable 55% increase, representing the fourth consecutive month of year-on-year growth in monthly exports. However, empty containers experienced an 18.5% decrease compared to the previous year. Together, these data reflect robust growth.
The Port of Long Beach:
The Port of Long Beach also had reasons to celebrate in September 2023, recording its most active month. They successfully moved 829,429 TEUs, representing an 11.8% increase compared to the previous year and surpassing the previous record set in September 2020 by 78,849 TEUs. This achievement is attributed to the consumer demand for summer holiday-related goods and the recent ratification of labor agreements between port operators and West Coast dockworkers.
Details from the Port of Long Beach:
Fully loaded containers unloaded in Long Beach saw an impressive 19.3% increase, reaching 408,926 TEUs. Conversely, fully loaded containers loaded witnessed a 10.3% decrease to 101,248 TEUs, while empty containers moved through the port grew by 11.5%, reaching 319,255 TEUs. Despite the decline in fully loaded containers loaded, the port remains on track to reach pre-pandemic levels, providing an encouraging sign of recovery.
In conclusion, the ports of Los Angeles and Long Beach had an exceptional September in 2023, marked by significant increases in cargo volume. These successes are partly attributed to the signing of long-term labor contracts with dockworkers, which attracted more cargo to the region. Additionally, the demand for goods related to the summer holidays boosted port activity. These results signify a growing economy and the ongoing importance of these ports in global maritime trade.
Maintaining a consistent cargo flow through these ports benefits not only the Los Angeles and Long Beach regions but also international trade. With the ratification of long-term labor contracts and a recovering economy, it is possible that these ports will continue to register strong growth in the future, good news for both the shipping industry and the broader economy.
Source: Mundo Maritimo