July shipments hit all-time record at Port of Los Angeles – Daily News

Cargo numbers in July set a new record at the Port of Los Angeles with a surge of nearly 939,000 container units, the most recorded in the port’s 116-year history.

It was a 37% surge over the previous year’s July and came in as the busiest month in more than two years.

Seven months into 2024, the Port of Los Angeles is 18% ahead of its 2023 pace, port officials said.

The numbers were announced Tuesday by port Executive Director Gene Seroka — who called it a “blockbuster cargo report” — during his monthly virtual press availability.

Seroka credited the overall economy and the port’s traditional “peak season,” noting that fall and holiday goods “are coming across our docks a little bit earlier than usual.”

That’s partly being driven, he said, by shippers taking extra precautions to avoid risks tied to Red Sea safety amid the Middle East war. Some shipments are coming earlier and using West Coast ports as well.

But will it last?

“Some observers think (2024 cargo volume) may have peaked in July, so we’ll see if that’s true, Seroka said. “So much relies on the economy.”

Seroka’s guest for the month, economics Paul Bingham, director for S&P Transportation Consulting, said while trade will continue to grow “but not at the same pace as we’ve seen in 2024.”

But, he added, a recession is not anticipated at this time.

Cargo is deliberately being shifted to the West Coast in an early peak season trend, Bingham said, as shippers eye the effective closure of the Suez Canal and several other risk factors, including a possible strike among longshore workers on the East Coast.

But even if a strike were to occur, Bingham said, it would likely be of minimal duration and would not seriously impact shipping trade.