Los Angeles Port handles record volumes in July

The Port of Los Angeles processed an estimated 935,345 TEUs in July, outpacing the previous record set in 2019 by 2.5 percent. "The port has set monthly records in five of seven months in 2022," says an official statement.

Loaded imports were estimated at 485,472 TEUs compared to the previous year, an increase of 3.4 percent. Loaded exports reached an estimated 103,497 TEUs, a 13 percent increase compared to the same period last year.

Empty containers reached an estimated 346,376 TEUs, an increase of 5 percent compared to last year, the statement added.

"Remarkably, we continue to move record amounts of cargo while working down the backlog of ships almost 90 percent, a huge accomplishment by all of our partners," says Gene Seroka, Executive Director, Port of Los Angeles. "Even with the current rail challenges, our marine terminals are more fluid than last year. That's due in part to our Port Optimizer data portal that allows our stakeholders to see around corners and tackle problems before they arise.

"Our terminals have capacity. For cargo owners looking to re-chart their course, come to Los Angeles. We're ready to help."

Seven months into 2022, the Port of Los Angeles has moved an estimated 6,349,248 TEUs, on pace with the record set last year, the statement added.

15 ships waiting across LA/LB ports
Container ships backed up across LA/Long Beach Ports totalled 15 on Wednesday, one lower than Tuesday, according to data from Marine Exchange of Southern California.

"The 15 container ships backed up include one container ship anchored or loitering awaiting a berth off the ports of LA/LB/Huntington, + 14 slow speed steaming or loitering outside the Safety and Air Quality Area (SAQA)."

The 15 container ships in the backup are 94 fewer than the record of 109 on January 9, 2022.

Freight rates continue slide
The Asia-US West Coast prices dropped 3 percent to $5,738/FEU on Wednesday, according to data from Freightos. This rate is 69 percent lower than the same time last year but more than quadruple the rate in August 2019.

"Asia-US East Coast prices were down 2 percent to $9,150/FEU, and are 54 percent lower than rates for this week last year."

Congestion at some U.S. ports is improving but together with still-strong demand, congestion is still significant enough to keep rates quite elevated compared to typical levels, the update added.