The Port of Los Angeles has closed its fiscal year with record volumes of 10,879,383 TEUs, setting a new Western Hemisphere record as the economy rebounded from COVID-19 shut-downs.
The nation’s busiest port finished it fiscal year in June moving 876,430 Twenty-Foot Equivalent Units (TEUs) for its busiest June ever. Over the past 12 months, the Port of Los Angeles surpassed eight monthly records, had its two highest-performing quarters, and had its top four individual months in the port’s history.
“Key economic indicators all suggest that U.S. consumer spending will remain strong through the remainder of 2021,” said Port of Los Angeles Executive Director Gene Seroka. “Even as Americans return to airline travel, vacations and in-person events, retail sales and e-commerce remain robust.
June 2021 loaded imports reached 467,763 TEUs compared to the previous year, for an increase of 27%. Loaded exports decreased 12% to 96,067 TEUs, the lowest amount since 2005.
Empty containers climbed to 312,600 TEUs, a jump of 47% compared to last year due to the heavy demand in Asia. Looking at the fiscal year, about 3.6 million empty TEUs were exported across Port of Los Angeles docks, another new record.
The total June 2021 volume of 876,430 TEUs surpassed the previous June 2019 record of 764,777 TEUs by 15%.
The fiscal year close of 10,879,383 TEUs is 12% higher than the previous 12-month record, when the Port handled 9,688,252 TEUs in FY 2018-19.
Six months into the 2021 calendar year, overall cargo volume is 5,427,359 TEUs, an increase of 44% compared to 2020.
“Fall fashion, back-to-school items and Halloween goods are arriving on our docks, and some retailers are shipping year-end holiday products early,” Seroka added. “All signs point to a robust second half of the year, which is good news for the nearly 1 million residents in the region who have jobs tied to the San Pedro Bay port complex.”