The budget is a 3.1% or $82.5 million increase over the previous fiscal year’s adopted budget, according to the Port of LA’s June 12 announcement. Port investments in the coming fiscal year, it said, will continue to focus on “strategic priorities of business, community, sustainability and workforce development.”
The FY 2025/26 budget is said anticipate cargo volumes of 8.2 million TEUs (twenty-foot equivalent units), an approximately 9.9% decline from the previous adopted budget.
Additionally, in the FY 2025/26 budget, operating revenues are forecast at $657.6 million. Approximately $470.3 million of those revenues are expected to be generated by shipping services at the Port. Operating expenses are estimated at $427.1 million.
The Port said its “robust” capital improvement program will continue to focus on strengthening its “operational capabilities and financial stability.” In FY 2025/26, $231.3 million will be invested in the program, a 7.2% or $18.1 million decrease from the FY 2024/25 adopted budget.
Funding to support major terminal and transportation construction projects in the coming year include:
- $47.6 million toward the $130 million State Route 47/Vincent Thomas Bridge & Front St./Harbor Blvd. Interchange Reconfiguration.
- $26.3 million to support the $73.8 million Berths 302-305 On-Dock Rail Expansion.
- Another $24.4 million for two Marine Oil Terminal Engineering and Maintenance Standards (MOTEMs) projects at Berths 238-239 and Berths 167-169.
Public access and environmental enhancement projects are slated to receive $23.2 million in the coming fiscal year, according to the Port. That total includes $2.8 million toward the $76.6 million Wilmington Waterfront Avalon Pedestrian Bridge and Promenade Gateway project, and $8.6 million toward the $501 million Zero Emissions Port Electrification & Operations (ZEPEO) project.
The Port noted that in 2024, it ranked again as the top U.S. container port by volume and the busiest port in the Western Hemisphere for the 25th consecutive year. It also continues to maintain its AA+ Bond rating, which it said was “the highest of any U.S. port without taxing authority.”
“This budget for the coming fiscal year is prudent, well-balanced and allows us to continue supporting important initiatives at the Port,” Los Angeles Harbor Commission President Lucille Roybal-Allard said. “We are confident that our careful financial planning and fiscal management over the past decade positions us well for sustained forward progress.”
“We come into this budget in a strong position, with nine consecutive years of positive cash flow,” Port Executive Director Gene Seroka noted. “Yet in the face of global trade and economic uncertainties, it’s more important than ever to navigate with a steady hand, remaining focused on our planning and priorities.”
Further Reading:
- ITS Logistics Issues June US Port/Rail Ramp Freight Index
- Ports of Los Angeles, Long Beach Seek Short Line Operator
- Watch: California ‘State of the Port’ Priorities for 2025
- For Port of LA, ‘Broad Gains in Clean Air Progress’
- Harbor Commission Greenlights Port of LA’s $52MM On-Dock Rail Project
- Port of LA Completes Pier 400 On-Dock Rail Expansion
