Los Angeles port handled 4% lesser containers in 9-months

The Port of Los Angeles processed 7,864,514 TEUs during the first nine months of 2022, about 4 percent down from last year's record level.

"Despite what will likely be a soft ending to 2022, we are on track to have the second-best year in our history," says Gene Seroka, Executive Director, Port of Los Angeles. "More importantly, the cargo backlog that began last year has been nearly eliminated due to the diligent, combined efforts of our supply chain partners."

With high levels of retail and other inventory already on shelves and in warehouses, cargo volume declined in September. "The Port handled 709,873 TEUs in September, a 21.5 percent decrease from September 2021, which was the Port's busiest September on record."

September 2022 loaded imports reached 343,462 TEUs, down 27 percent compared to the previous year. Loaded exports came in at 77,680 TEUs, up 3 percent compared to last September. Empty containers landed at 288,731 TEUs, a 20 percent decline compared to last year.

Waiting ships down to 4
Container ships waiting at POLA and the Port of Long Beach declined to four as on October 19, a record low compared to 109 ships recorded on January 9, 2022.

"The 4 container ships backed up includes 0 container ships anchored off the ports of LA/LB/HB awaiting a berth in LA/LB + 0 loitering within 25 miles of the ports + 0 transiting to a berth within 25 miles of the ports + 4 slow speed steaming or loitering outside the Safety and Air Quality Area (SAQA)," says a report from Captain J. Kipling (Kip) Louttit, Executive Director, Marine Exchange of Southern California & Vessel Traffic Service Los Angeles and Long Beach San Pedro, CA.

Slide in rates continue
Ocean spot rates continued their decline on the major ex-Asia lanes this week on falling demand but port congestion on the U.S. East Coast and at many major European hubs may be slowing the speed of the rate fall, Freightos said in its latest update.

Asia-U.S. West Coast prices decreased 9 percent to $2,492/FEU. This rate is 86 percent lower than the same time last year.

Asia-U.S. East Coast prices declined 5 percent to $5,719/FEU, and are 72 percent lower than rates for this week last year.