Ports Post Record Trade in September - Los Angeles Business Journal
The twin ports of the San Pedro Bay achieved a significant milestone in September, moving more than 2 million TEUs (20-foot-equivalent units) of cargo, setting both individual and combined records.
Key Points:
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Record-Breaking Numbers:
- Port of Los Angeles: Over 1.04 million TEUs, the highest monthly total since its inception.
- Port of Long Beach: 997,177 TEUs, breaking its previous record set in October 2024.
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Cargo Breakdown:
- Import TEUs:
- Port of LA: 545,969 (up 19% YoY)
- Port of Long Beach: 509,390 (up 31.3%)
- Export TEUs:
- Port of LA: 125,751 (up 10%)
- Port of Long Beach: 91,747 (up 7.8%)
- Import TEUs:
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Contributing Factors:
- Holiday-driven consumer demand.
- Lower tariff rates from earlier in the year.
- Water supply issues affecting the Panama Canal and Suez Canal.
- Uncertainty in the Middle East's Suez Canal.
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Future Projections:
- Port of Long Beach aims to double its cargo volumes to 20 million TEUs annually by 2050 through the development of the Port of the Future.