November 15, 2016 Comments Off on Port of LA Hits Record-Breaking Cargo Volume Views: 475 California News, Top California, West

Port of LA Hits Record-Breaking Cargo Volume

Countering the notion that the shipping industry is sinking, the Port of LA (POLA) recorded the busiest month ever for a Western Hemisphere container port last month. Cargo volume increased 16%, compared to the same time last year.

The previous record of 800,063 TEU’s, set in 2006, was eclipsed in October at 814,574 TEU’s.

At least in the short-term, capacity and demand are holding up at POLA, which hasn’t suffered the impact Hanjin Shipping Co.’s recent bankruptcy has on the neighboring Port of Long Beach. In September, Long Beach experienced a 16.6% decrease in cargo numbers.

POLA imports increased 16.4% last month, while exports jumped 23.3%. For the year, total cargo volumes at POLA are up 5.25% over the same period in 2015. Long Beach has yet to report October cargo volume.

Read more at Los Angeles Business Journal

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