Port of Long Beach

Aerial view of the San Pedro Bay Port Complex in California. (Photograph Courtesy of Port of Los Angeles)

Port of Los Angeles Adopts $2B FY23/24 Budget

The Los Angeles Board of Harbor Commissioners on June 7 approved a $2 billion Fiscal Year (FY) 2023/24 annual budget for the Port of Los Angeles, calling for “increased investment in Port operational and public-access infrastructure, as well as support for a range of industry leading sustainability and decarbonization initiatives.”

POLB: New PLA Ensures Jobs for Skilled Workers Without Stoppages

The Port of Long Beach (POLB) and the Los Angeles/Orange Counties Building and Construction Trades Council have finalized a new 10-year project labor agreement (PLA) that “ensures large Port infrastructure projects will continue to be built by skilled workers without any stoppages, strikes or lockouts.” The previous port-wide PLA was a five-year pact adopted in 2016 and extended for two years.

Aerial view of the San Pedro Bay Port Complex in California. (Photograph Courtesy of Port of Los Angeles)

Trade Slows at Ports of LA, Long Beach

The ports of Los Angeles and Long Beach experienced double-digit declines in TEUs (twenty-foot equivalent units) processed in February. Both California ports cited well-stocked retailers, reduced consumer spending, and the typical closure of east Asian factories during the Lunar New Year holiday, as reasons for the soft cargo volumes.

Aerial view of the San Pedro Bay Port Complex in California. (Photograph Courtesy of Port of Los Angeles)

Intermodal Briefs: Port of LA, FourKites/RCS Logistics

The Port of Los Angeles starts 2023 with a 16% drop in TEUs (twenty-foot equivalent units), and expects a “soft” first quarter due to “extended Lunar New Year closures, well-stocked retailers and economic concerns.” Also, FourKites and RCS Logistics team to provide RCS customers with a “one-stop shop” for end-to-end visibility into their shipments across ocean, air, drayage, intermodal and over-the-road (OTR).