Trade moving through the ports of Los Angeles and Long Beach rose in January as retailers stocked up ahead of the Lunar New Year, when east Asian factories typically close for up to two weeks.
Port of Los Angeles
Chicago-based Anacostia Rail Holdings (ARH) on Jan. 31 released two new reports examining the feasibility and benefits of rail service operating to an inland port for intermodal containers destined within 150 miles
The Port of Los Angeles finishes 2023 with five months of year-over-year growth. Also, South Carolina Ports (SC Ports) gives the Midlands region a big economic boost, according to a recent report.
Port of Los Angeles Executive Director Gene Seroka outlines plans for 2024 in his “State of the Port” address. Also, Trigon Pacific Terminals Ltd. (Trigon) initiates the regulatory review process for its planned Canadian LPG export project.
Surface Transportation Board (STB) General Counsel Craig M. Keats retires after 51 years of public service. Also, the Port of Los Angeles, Calif., elevates Chris Brown to Chief Harbor Engineer, overseeing the Engineering Division.
We modestly lower our fourth-quarter 2023 estimates on mix pressures that are likely to be somewhat mitigated by fuel tailwinds. Intermodal recovery comes at the price of yield given the protracted over-the-road (OTR) rate trough. A revenue per carload rebound is likely a late-2024 story, at best. First-quarter 2024 should see typical seasonal softening, which is well understood as the focus shifts to recovery. We favor Union Pacific (UP) and Norfolk Southern (NS) in 2024 on margin recovery prospects.
Construction is under way at South Carolina Port Authority’s (SC Ports) Navy Base Intermodal Facility. Also, the Port of Los Angeles’ Alameda Corridor Terminus Gap Closure project is recognized as a top regional transportation improvement project by the American Public Works Association Southern California Chapter.
Ports of Indiana and MG Rail complete $1.1 million in road and rail improvements at Jeffersonville Port. Also, November cargo volume increases at Port of Los Angeles and the Port of Long Beach (POLB); and the Saguenay Port Authority receives $111.1 million to support conveyor planning.
The Port of Los Angeles and the Port of Long Beach recently reported that cargo volume in October has increased compared to the previous year.
The Port of Los Angeles reported handling 748,440 Twenty-Foot Equivalent Units (TEUs) in September, a 5.4% improvement compared to the same period last year.