SIMIC

SOUTH California's principal ports, Los Angeles and Long Beach, did well in January with LA up 18 per cent year on year to 855,652 TEU while Long Beach throughput rose 17.5 per cent to 674,015 TEU.

For Los Angeles it was the second best start to the year on record, the sixth straight month of year on year growth while Long Beach posted a fifth consecutive month of cargo increases.



Said LA port executive director Gene Seroka: "Two factors are driving our strong start. First, cargo owners have been replenishing inventories and moving goods at a fast clip ahead of the Lunar New Year holiday, which will slow production in Asia.



"Second, consumer spending and mostly strong economic data continue to accelerate the American economy," he said.



Mr Seroka said that last season's Christmas sales increased by about four per cent, with significant employment growth and other important indicators developing positively.



Long Beach imports increased 23.5 per cent to 325,339 TEU and exports were down 18.1 per cent to 86,525 TEU. Empty containers moved through the port increased 28 per cent to 262,151 TEU.



Said Long Beach port CEO Mario Cordero: "Retailers stocked their warehouses in January ahead of the slower import activity we typically see during Lunar New Year celebrations.



"We are ready to grow our volumes and hope to see continued growth through 2024 as we gradually recapture market share," he said.