Issue link: https://pma.uberflip.com/i/1533421
PACIFIC MARITIME ASSOCIATION 3 To Our Stakeholders, It is an honor to present the 2024 Annual Report, my first as PMA President and CEO. Last year was marked by both change and continuity in our leadership team, stability and growth in port operations, and resilience that underscores the global importance of West Coast ports. A surge in container volumes led to the second-busiest year ever at the Ports of Los Angeles and Long Beach. The smooth handling of the import wave attests to investments by PMA members in modern terminal technology and strong performance by ILWU workers, whose staffing levels had been raised by PMA after the COVID-era congestion. Labor stability provided by the PMA-ILWU coastwise contract was a key driver of volume growth. Looking to the future, partnership with the ILWU will be critical in consolidating the 2024 gains and reversing the long decline in West Coast ports' market share. The coastwise contract, in place through 2028, provides a clear path for all of us. Any attempt to circumvent provisions in the contract undermines the collective bargaining process and puts our ports' vitality, the nation's economy, and longshore job growth at risk. PMA is committed to supporting our workforce by ramping up training programs to prepare ILWU members for the longshore jobs of the future. In May of 2024, we opened a 20,000 square foot training center at the Port of Los Angeles that provides upskill and reskill training, including for the maintenance and repair of automated equipment. As we look to build on our momentum, PMA faces a number of uncertainties, including the impact of the tragic wildfires in Los Angeles. Our ports stand ready to support the region's recovery, which will likely spur demand for imported steel, lumber, and other building supplies, renewing focus on the supply chain. Potential tariffs, meanwhile, could impact cargo volumes. And we are closely tracking possible new environmental regulations that could affect port operations, particularly in Southern California. I am confident PMA will continue to rise to any and all challenges as we chart a course of growth and innovation to preserve the competitiveness of West Coast ports and the millions of jobs and businesses these economic engines support. Stephen Hennessey President and CEO