San Pedro, CA – The Port of Los Angeles marked a robust end to 2023, reporting a consistent upward trend in container processing for the fifth consecutive month. The port, despite a slow start, processed 747,335 Twenty-Foot Equivalent Units (TEUs) in December, reflecting a 2.5% increase compared to the same period the previous year.
For the entirety of 2023, the Port handled a total of 8,634,497 TEUs, representing a decrease of approximately 13% from the preceding year. This decline was observed across various global ports due to a broader decrease in trade activities. Nevertheless, the Port of Los Angeles maintained its position as the nation’s busiest container port for the 24th consecutive year.
Gene Seroka, the Executive Director of the Port of Los Angeles, expressed optimism for the upcoming year, stating, “In 2024, our sights are set on community investment, sustainability progress, and capturing additional market share.” He outlined the port’s strategic initiatives, including a 10-year, $2 billion capital improvement program focused on enhancing cargo handling capabilities. Additionally, the port plans to invest in secure technology to boost efficiency and reduce its carbon footprint, ultimately leading to job creation and increased community investment.
During his recent address in the 9th Annual State of the Port, Seroka emphasized the importance of long-term planning and the role technology will play in shaping the port’s future. The focus on sustainability and efficiency aligns with the global push for environmentally conscious practices in the shipping industry.
Breaking down the December 2023 figures, loaded imports amounted to 369,477 TEUs, marking a 5% increase compared to the previous year. Loaded exports saw a more substantial surge, reaching 121,575 TEUs, a notable 26% growth from 2022. Meanwhile, empty containers totaled 256,283 TEUs, indicating an 8.5% decrease compared to the same period in the preceding year.