Port of Los Angeles First Half Volumes Up

Image Courtesy: Port of Los Angeles

Californian port of Los Angeles has handled 5.9 percent more of overall cargo volumes in the first six months of 2016 compared to the same period last year.

Despite a decrease in June volumes, year-to-date volumes registered at 4,13 million TEUs, compared to 3,9 million TEUs in the same period a year earlier.

“We’re encouraged with year over year growth in the first half of 2016, even though June was not as robust as the same period in 2015 due to industry trade patterns,” Port of Los Angeles Executive Director, Gene Seroka, said.

The port’s cargo volumes dropped by 6.3 percent in June, with imports decreasing by 3.5 percent to 355,622 TEUs.

Loaded exports also saw a dip by 2.1 percent at 140,561 TEUs. Combined, total loaded volumes slipped 3.1 percent to 496,184 TEUs.

Along with a decrease in empty containers of 14.2 percent, overall June volumes were 676,006 TEUs, representing 6.3 percent less compared to June 2015.

Last month, the Port of Los Angeles received approval for a USD 1.17 billion fiscal year 2016/17 annual budget which supports four key objectives of the port’s 2012-2017 Strategic Plan, including the development of infrastructure, the implementation of an efficient, secure and environmentally sustainable supply chain, improved financial performance of port assets and strengthened relationship with port stakeholders.

The budget includes USD 452.8 million in operating receipts, a principal mechanism for funding day-to-day port operations, representing a 5.7 percent increase over the prior year budget.

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