The Los Angeles Board of Harbor Commissioners approved a $1.17 billion budget to cover infrastructure improvements and reduce the wait time truckers face when doing business at the largest port in North America.
Port officials estimate that container traffic will grow 5.6% during the next fiscal year. On a calendar basis, Los Angeles handled 8.9 million industry-standard 20-foot-equivalent units, or TEUs, in 2016, a record for the Western Hemisphere. In 2017, the port is on pace to break the record again, up 10% through April.
“Our unprecedented cargo volumes over the last 15 months are evidence that our focus on supply chain efficiency and cargo-handling improvements are paying off,” Port of Los Angeles Executive Director Gene Seroka said.
