Image: Port of Los Angeles
The Port of Los Angeles relocated 544,037 Twenty-Foot Equivalent Units (TEUs) in February, a 22.9% decline contrasted to in 2014.
“While cargo volumes are important, the coronavirus is first and foremost a public health crisis that needs to be brought under control with the collaboration of governments and medical experts from around the world,” claimed Port ofLos Angeles Executive Director Gene Seroka “We are more interconnected than ever with our global partners so it’s no surprise that Trans-Pacific maritime trade has been significantly impacted.”
“As factory production in China remains at low levels, we expect soft volumes in March. Looking ahead to anticipated manufacturing improvements, we will need to return empty containers to Asia and push lingering U.S. export boxes out swiftly,” Seroka included. “We’re actively working with our supply chain partners to be prepared for a cargo surge once production levels ramp up.”
February imports reduced 22.5% to 270,025 TEUs contrasted to the previous year. Exports reduced 5.7% to 134,468 TEUs. Empty containers decreased 35% to 139,544 TEUs. In complete, February quantities, additionally detrimentally influenced by the Lunar New Year vacation commemorated in Asia, completed 544,037 TEUs. For the initial 2 months of 2020, complete container quantities are 1,350,181 TEUs, down 13% contrasted to in 2014.
