POLA and POLB volume gains remained intact in October

Volume gains remained intact in October, for the Port of Los Angeles (POLA) and the Port of Long Beach (POLB), according to data respectively issued by each port.

POLA reported that total October volume, at 725,775 TEU (Twenty-Foot Equivalent Units), was up 7% annually, marking the third consecutive month of volume growth.

POLA imports, at 372,455 TEU, posted an 11% annual gain, short of September’s 14% increase, which was its biggest annual gain in more than two years. POLA Executive Director Gene Seroka said on a recent media conference call that credit for the import gains goes to the American consumer showing remarkable resiliency in the face of higher interest rates and elevated prices.

September POLA exports, at 121,277, rose 35% annually, rising for the fifth consecutive month and the sixth month exports have topped the 100,000 TEU mark in a month. Empty containers, which continue to be impacted by slower imports from Asia resulting in less demand for empty containers, fell 8% annually.

On a year-to-date basis through October, total POLA volume is up 11% annually, to 7,123,900 TEU, for a 16.6% annual decrease.

“Our terminal operators, labor and other stakeholders have worked hard to earn cargo market share back over the last three months,” said Port of Los Angeles Executive Director Gene Seroka in a statement. “Additionally, November is also shaping up to be a strong month as we see a final holiday push and warehouse replenishment.”

POLB data: The Port of Long Beach reported that total October volume, at 755,150 TEU, was up 14% annually.

POLB imports, at 363,300 TEU, were up 23.6% annually, and exports, at 90,073 TEU, were off 24.8%. Empty containers saw a 23.3% gain, to 301,777 TEU.

Through October, total POLB volume, at 6,577,815 TEU, was down 17.8% annually. Port officials said that 2023 cargo flows are in line with pre-pandemic levels, when it moved more than 6.36 million TEU through October 2019.

“Cargo is rebounding and we are continuing to collaborate with our industry partners to recapture market share and invest in infrastructure that will position us for future growth,” said Port of Long Beach CEO Mario Cordero in a statement. “We are anticipating moderate growth through the rest of the year as retailers continue to stock shelves for the winter holidays.”