LOS ANGELES — The Port of Los Angeles moved an estimated 9.3 million Twenty-Foot Equivalent Units as of November, a 19% increase over the same month last year, and officials anticipate reaching 10 million by the end of the year, officials said Tuesday.

"We are well on pace to exceed 10 million container units for only the second time in our 117-year history," Gene Seroka, executive director of the port, said during an online briefing.

"It's a remarkable milestone that we owe to the collective efforts of our partners: The women and men of the International Longshore and Warehouse Union, our trucking community, terminal operators, rail partners and many others whose efforts continue to elevate the Port of Los Angeles to new heights," he added.

What You Need To Know

  • Port of LA officials said they are on pace to exceed 10 million container units for only the second time in their 117-year history

  • The Port of Los Angeles moved an estimated 9.3 million Twenty-Foot Equivalent Units as of November, a 19% increase over the same month last year

  • Retail data showed sales were 0.7% higher than anticipated in November,

  • About 200 million Americans, three quarters of adults, shopped at near record levels on Black Friday and Cyber Monday, according to the National Retail Federation

In November, the port processed 884,315 containers, an increase of 16% over the same month last year. Loaded imports came in at 458,165 TEUs, a 19% increase over November 2023. Meanwhile, loaded exports stood at 124,117 TEUs, an increase of 11% over the same period.

The port processed about 302,033 empty containers, a jump of 13% compared to November 2023.

"The key driver of this growth is the underlying strength of our nation's economy, which continues to boost consumer spending," Seroka said.

Retail data showed sales were 0.7% higher than anticipated in November, the director noted. About 200 million Americans, three quarters of adults, shopped at near record levels on Black Friday and Cyber Monday, according to the National Retail Federation.

Unresolved labor negotiations on the East and Gulf Coast, as well as front-loading of cargo as a hedge against potential tariffs and ongoing security concerns in the Red Sea factored into cargo growth at the Port of L.A., officials said.

"These factors should help us get off to a fast start in 2025 — plus factories in Asia will try to push out inventory ahead of the Lunar New Year, which begins on January 29, before they take a traditional break when workers take time off to celebrate the holiday with family and friends," Seroka said.

Uncertainty around the potential tariffs promised by President-elect Donald Trump will "likely dominate" discussion about global shipping to start off 2025 in Los Angeles, he added.

Scott Kelly, vice president of Ocean Services, The Americas, for Expeditors International, joined Seroka to discuss Trump's potential tariffs, among other issues.

"Most of our customers are waiting to see, and trying to figure out what will happen," Kelly said. "They're evaluating their options."

Kelly noted it might be a similar situation to what the industry saw during the coronavirus pandemic.