The Port of Los Angeles has had its busiest February on record, with 713,721 TEUs handled at the West Coast shipping hub last month.
The figure marks a 42 per cent increase on container volumes compared to the corresponding period last year. “Back to back record months to start 2016 indicate consumer confidence in the US economy and strong shipper confidence in our terminal and supply chain partners to deliver on speed and efficiency,” said Port of Los Angeles Executive Director Gene Seroka.
February 2016 imports surged 46.6 per cent to 372,744 TEUs compared to 2015. Exports increased 11.1 per cent to 146,488 TEUs.
February volumes were buoyed in part by US importers bringing in productsfrom Asia ahead of the Lunar Year, which began on 8 February and slowed production for several weeks in China. The surge in February deliveries will result in softer import volumes in March.
The relatively high value of the US dollar continues to slow US exports due to their relative higher costs abroad.
