The Port of Los Angeles announced Monday the launch of a cargo volume projection data tool that creates forecasts for up to six month in advance.
“Horizon,” which is accessible only for people who work for and do business with the port, was developed in partnership with Wabtec and uses historical and trending volume data from the Port Optimizer, the port’s digital portal that tracks shipping data to facilitate more efficient cargo flow. The algorithm is constantly updated to improve forecasts about the port’s cargo volume.
“Data is a critical resource in moving goods across the supply chain and into the hands of consumers,” said Nalin Jain, Wabtec’s president of Digital Electronics. “This is one more step in our journey to connect railroads, chassis providers, truckers, warehouse operators and others across the supply chain with the insights they need to seamlessly move cargo in and out of ports.”
The port’s cargo owners, terminal operators truckers and stakeholders can see forecasts for the port’s imports, exports and empty containers to help them “plan and allocate resources, especially amid this historic cargo surge,” according to Port of Los Angeles Executive Director Gene Seroka, who said the tool was the first of its kind.
In the last year, the port eclipsed eight monthly records and experienced its two highest-performing quarters. The port processed 876,430 20-foot equivalent units in June, closing the 2021-22 fiscal year with 10,879,383 TEUs, the most in a year for any Western Hemisphere port.
In May, the port also became the first port in the Western Hemisphere to handle more than a million TEUs in one month, with 1,012,248 TEUs processed in May, the most in the port’s 114-year history.
“Key economic indicators all suggest that U.S. consumer spending will remain strong through the remainder of 2021,” Seroka said on July 14 in announcing that June was the LA Port’s busiest on record. “Even as Americans return to airline travel, vacations and in-person events, retail sales and e-commerce remain robust.”
Port stakeholders can access “Horizon” on the port’s Control Tower at tower.portoptimizer.com. The portal also includes real-time views of truck turn times, truck capacity management information, a three-week look at incoming cargo, information about when and where to return empty containers, and historical volumes and trends dating back to 2017.