Cargo movement at the San Pedro Bay Port Complex evened out a bit in May while remaining at relatively high levels in comparison to the multiyear average.
For May, the Port of Los Angeles processed 752,893 TEUs of cargo, while the neighboring Port of Long Beach handled 695,937 TEUs. (Twenty-foot equivalent units, or TEUs, is the standard measurement of containerized cargo, based on the capacity of a typical 20-foot container.) These represent declines of 3% and 8%, respectively, from May 2023 numbers.
However, on the year, L.A. and Long Beach are up by 18% and 10% when compared to the first five months of last year.
“We continue our trend of strong, consistent volume that started at the beginning of the year,” Port of L.A. Executive Director Gene Seroka said. “As we gear up for the second half of the year, our forecast indicates more robust activity on our docks throughout the summer.”
In L.A., loaded imports came in at 390,663 TEUs, while loaded exports numbered 125,963 TEUs. The imports fell by about 19,000 TEUs from last year, but on the export side, it was the 12th straight month of year-over-year gains at L.A.
Meanwhile, in Long Beach, loaded imports totaled 345,271 TEUs and loaded exports were 100,885 TEUs. Both were declines from the previous year – a sclerotic period for both ports as they adjusted from an early-pandemic surge in cargo that ballooned into a massive logjam of ships awaiting their turn to dock.
Positive future outlook
Both entities are optimistic that cargo numbers at the complex – the most prolific seafaring goods gateway in the U.S. – will remain steady or even grow for the remainder of the year, especially as retailers prepare for the winter holidays.
“I am confident we will see additional cargo as we work with industry partners to rebuild our market share in this increasingly competitive environment,” said Port of Long Beach Chief Executive Mario Cordero. “Looking ahead, I anticipate a moderate increase in cargo as we move into summer, and we recapture business by delivering the top-notch customer service that makes us the Port of Choice.”
Through May, the Port of L.A. has handled about 3.9 million TEUs and the Port of Long Beach has moved about 3.5 million TEUs. These figures put them well on track to line up with the 12-month totals from last year.
Truck-bound imports moved efficiently in May, according to the Pacific Merchant Shipping Association. The average dwell time of cargo destined for drayage trucks – how long cargo waits after being unloaded from ships to being placed on an outbound vehicle – was 2.47 days, essentially identical to April’s dwell time. This also represents a significant improvement from the eight-year average dwell time of 3.46 days, per the association.
Rail-bound cargo, on the other hand, remains on a roller coaster ride this year. Dwell times for that cargo were 6.44 days in May, a significant rise from 4.55 days in April but also an improvement from the 7.02 days in March.
Both ports also adopted their fiscal year 2024-25 budgets this month. The Los Angeles Harbor Commission, which governs the Port of L.A., approved a $2.6 billion budget; the Long Beach Board of Harbor Commissioners, which govern the Port of Long Beach, approved a $760 million budget.
