Despite soaring inflation and dampened consumer confidence, Port of Los Angeles Chief Executive Gene Seroka believes U.S. import container volumes will continue to strengthen in the coming months.
Seroka said retailers continue to replenish inventories, merchandise sales remain strong, parts imports into U.S. factories are increasing, and a large number of shipments are on the way to start arriving at the end of the month. He expects volumes to peak earlier this year.
Seroka noted that the number of ships leaving Asia has been very stable. Data from the Marine Exchange of Southern California showed 47 container ships left Asia this week for the ports of Los Angeles or Long Beach, a 27% increase from the first week of January.
The Port of Long Beach recently released May throughput figures. The port's total throughput of 967,900 TEUs in May was the third-highest monthly record after May 2021 and October 2020. Throughput in May this year was 21% higher than the May 2017-2021 average.
The Port of Los Angeles imported 499,960 TEU of containers, 20% higher than the previous five-year average. Export box volume increased to 125,656 TEU, up 14% year-on-year and reaching the highest level since November 2020. The number of empty boxes is 342,285 TEU. Seroka said imports from Asia are still high, and demand for empty containers is high in Asia.
