The Port of Los Angeles handled more than 950,000 TEU in September
The Port of Los Angeles recently held a monthly media briefing on cargo volume, and Gene Seroka, director of operations for the Port of Los Angeles Authority, introduced that the port's throughput reached a record high in September and looked ahead to future trends. Matthew Shay, president and CEO of the National Retail Federation (NRF), was invited to attend the same day's press conference, and he predicted that the upcoming holiday season will be full of consumer momentum.
Seroka said it handled more than 950,000 TEU in September, a 27 percent increase over the same period last year and a record 18 percent above the monthly average over the past five years. Overall throughput in the third quarter exceeded 2.8 million TEU, the highest recorded in the port's 116-year history. At the same time, as of the end of September 2024, the total throughput reached 7.6 million TEU, an increase of 1.2 million or 18% over the previous year.
Looking ahead to the coming months, the Port of Los Angeles continues to see strong throughput, with Seroka pointing to three key factors: first, despite being close to the off-season, there is little evidence of a decline in cargo volumes; Second, as the election approaches, some importers may bring forward purchases to avoid new tariffs. Finally, the US economy continues to grow, especially with employment and retail sales data exceeding expectations, and holiday consumption demand is expected to remain at a high level.
Seroka said it handled more than 950,000 TEU in September, a 27 percent increase over the same period last year and a record 18 percent above the monthly average over the past five years. Overall throughput in the third quarter exceeded 2.8 million TEU, the highest recorded in the port's 116-year history. At the same time, as of the end of September 2024, the total throughput reached 7.6 million TEU, an increase of 1.2 million or 18% over the previous year.
Looking ahead to the coming months, the Port of Los Angeles continues to see strong throughput, with Seroka pointing to three key factors: first, despite being close to the off-season, there is little evidence of a decline in cargo volumes; Second, as the election approaches, some importers may bring forward purchases to avoid new tariffs. Finally, the US economy continues to grow, especially with employment and retail sales data exceeding expectations, and holiday consumption demand is expected to remain at a high level.
Referring to the two recent hurricanes and the longshoremen strike, Shea said retail chief operating officers put a lot of effort into mobilizing support for communities affected by the disaster. In response to the strike, Shea noted that the NRF actively engaged and mobilized industry groups to communicate the potential economic impact of the strike to Washington and the country, and maintained close contact with all parties. He stressed that the strike, which ended earlier this month, would have a limited immediate impact on the economy and would not affect upcoming holidays. The latest sales forecast suggests retail sales will grow 2.5 to 3.5 percent and total an estimated $990 billion, which would be an all-time high. Much of the holiday merchandise arrived early because of concerns about the outcome of the longshoremen's labor negotiations.
