Port of Los Angeles adopts new fiscal year budget

The Los Angeles Harbor Commission today approved a 2025/26 fiscal year (FY) budget of US$2.7 billion for the Port of Los Angeles, which represents a 3.1% or US$82.5 million increase over the previous fiscal year’s adopted budget.

Port investments in the coming fiscal year will continue to focus on strategic priorities of business, community, sustainability and workforce development, according to the announcement.

“This budget for the coming fiscal year is prudent, well-balanced and allows us to continue supporting important initiatives at the Port,” said Los Angeles Harbor Commission President Lucille Roybal-Allard. “We are confident that our careful financial planning and fiscal management over the past decade positions us well for sustained forward progress.”

The proposed budget for FY 2025/26 anticipates cargo volumes of 8.2 million TEUs, a decrease of approximately 10% over the previous fiscal year’s adopted budget.

In the FY 2025/26 budget, operating revenues are forecast at around US$658 million and approximately US$470 million of those revenues are expected to be generated by shipping services at the US Port. Operating expenses are estimated at around US$427 million.

The Port’s robust capital improvement program, focused on strengthening the Port’s operational capabilities and financial stabilit,y will continue in FY 2025/26, with an investment of US$231.3 million, down US$18.1 million or 7.2% relative to the FY 2024/25 Adopted Budget.

Funding to support major terminal and transportation construction projects in the coming year includes US$47.6 million toward the US$130 million State Route 47/Vincent Thomas Bridge & Front St./Harbor Blvd. Interchange Reconfiguration; US$26.3 million to support the US$73.8 million Berths 302-305 On-Dock Rail Expansion; and another US$24.4 million for two Marine Oil Terminal Engineering and Maintenance Standards (MOTEMs) projects at Berths 238-239 and Berths 167-169.

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