Loaded outbound 20-foot containers (TEUs) exported from the L.A. Port in May totaled 184,275 units, which was the highest export container count ever for the month of May, and the second highest monthly export shipping volume for any month in the port's history, next to the all-time monthly record of 192,850 TEUs in March of this year (see chart). Other highlights of this month's report include:
1. Containerized exports in May were above the year-ago level by 14.7%, and up by 21% from two years ago in May 2009.
2. For the first five months of the year, January-May shipping activity for outbound export containers this year improved by 11% compared to the same period last year.
3. Loaded inbound containers in May, at 360,969 containers, were above last year's level by 5.5%, and the highest count for the month of May in three years, since 2008.
4. Overall shipping activity at the L.A. Port set a new record for the month of May at 545,243 containers, and it was the second-highest monthly loaded container count in port history.
Bottom Line: The strong level of shipping volume at the Port of Los Angeles in May indicates that the U.S. and world economies are continuing to expand and grow, and the recent slowdown in some economic indicators was probably temporary and mild.