Record May Container Volumes at Port of Los Angeles
The Port of Los Angeles moved 828,662 TEUs in May, the busiest May in the port’s 112-year history.
The volumes reflect growth of 7.8 percent compared to last May. For the first five months of 2019, volumes have increased 5.2 percent compared to the same period last year.
May 2019 imports increased 5.5 percent to 427,789 TEUs compared to last May. Exports decreased 0.8 percent to 167,357 TEUs. Empty containers increased 20 percent to 233,515 TEUs.
Previously, the strongest May volumes at the port occurred in 2017 with 796,217 TEUs.
On June 7, the Los Angeles Board of Harbor Commissioners approved a $1.6 billion fiscal year 2019/20 annual budget. The budget forecasts a slight decrease in FY 2019/20 cargo volumes over the record-setting levels of the previous year, with a corresponding decrease in port operating revenues and operating expenses.
Operating revenues are estimated at $499.7 million, a decrease of 1.9 percent over FY 2018/19, based on a cargo volume estimate of 9.4 million TEUs. The port has allocated $144.4 million to capital improvement projects, a 58.8 percent increase over the previous fiscal year. Of that amount, $64.7 million will go to terminal improvements, $38 million to maritime services, $11.7 million to transportation upgrades and $8.5 million to security-related projects. The budget also includes $21.5 million for LA Waterfront projects.