Early Arrival of Holiday Goods, Economic Concerns Begin to Slow Record Pace
After record-breaking cargo volume in 2021 and the first half of 2022, the import surge at the Port of Los Angeles slowed in August.
The Port handled an estimated 806,000 Twenty-Foot Equivalent Units (TEUs) in August, approximately 15% less than the same period a year ago.
“Some goods that usually arrive in August the for the fall and winter season shipped earlier to make sure they reached their destination in time,” Port of Los Angeles Executive Director Gene Seroka said at a news briefing. “Additionally, inflationary concerns and elevated inventory levels have made some retailers and e-commerce sellers more cautious.
“We’ve been able to nearly eliminate the backlog of ships waiting to enter the port by 90% compared to earlier this year,” Seroka added.
“We’ve got capacity on our terminals and the ability to handle cargo coming in more efficiently than last holiday season.”
While official August cargo volume will be available soon on the Port’s website, Seroka offered estimates that are expected to change only slightly when final.
August 2022 loaded imports reached an estimated 404,000 TEUs compared to the previous year, a decrease of about 17%.
Loaded exports reached an estimated 100,000 TEUs, a 1% increase drop compared to last August. Empty containers landed at an estimated 301,000 TEUs, an 18% decline compared to last year.
Eight months into 2022, the Port of Los Angeles has moved an estimated 7.2 million TEUs, about 1.6% down from last year’s record pace.
Current and historical cargo data, including fiscal year-end totals, are available her
