The Port of Los Angeles has launched a data tool that creates cargo forecasts up to six month in advance.
“Horizon,” which the port announced on Monday, July 19, is accessible only for people who work for and do business with the port. The tool, developed in partnership with rail technology company Wabtec, uses historical and trending volume data from the Port Optimizer, POLA’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.
The data tool is the first of its kind, said Gene Seroka, the port’s executive director.
“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 imports, exports and empty containers, Seroka saod, to help them “plan and allocate resources, especially amid this historic cargo surge.”
In the last year, the port, the busiest in the nation, eclipsed eight monthly records and experienced its two highest-performing quarters. The port processed 876,430 twenty-foot equivalent units — the universal cargo measurement — in June, closing the 2021-22 fiscal year with about 10.8 million TEUs, the most in a 12-month period 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. The 1,012,248 TEUs POLA processed in May was 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 last week. “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.
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July 20, 2021 at 02:48AM
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LA Port announces new data tool that projects cargo six months in advance - The Daily Breeze
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