By Mark Edward Nero
The Port of Los Angeles has released its October 2014 containerized cargo volumes, and the data show that overall volumes increased more than four percent last month compared to October 2013. Total cargo for October was more than 715,600 TEUs, compared to about 684,000 during the same month last year.
Container imports increased 7.2 percent last month, according to the data, rising from 346,137 TEUs in October 2013 to 370,938 TEUs in October 2014. However, exports fell 6.7 percent during the same timeframe, going from 169,568 TEUs in October 2013 to 158,181 TEUs in October 2014. U.S. exports have declined in 2014 due to weaker demand abroad and a stronger US dollar, which makes US goods more expensive.
Combined, total loaded imports and exports at Los Angeles increased 2.6 percent, from 515,705 TEUs in October 2013 to 529,119 TEUs in October 2014. Factoring in empties, which increased 10.7 percent year over year, overall October 2014 volumes of 715,682 TEUs was an increase of 4.6 percent compared to October 2013’s 684,207 TEUs.
For the first ten months of calendar year 2014, overall volumes (7,018,152 TEUs) have increased 7.5 percent compared to the same period in 2013 (6,531,374 TEUs). The port says the increase reflects the conclusion of peak season volumes and larger vessels calling at Los Angeles.