Port of Los Angeles under pressure
The port of Los Angeles remains in troubled waters. In January, the Californian port moved approx. 806,000 teu, a 5.4% decrease compared to last year.
“We anticipated that tariffs would continue to impact cargo volumes as we moved into 2020, and our January volumes reflect that ongoing trend,” said port of Los Angeles executive director Gene Seroka.
“The coronavirus, which prompted China’s central government to extend the Lunar New Year holiday, adds a new layer of uncertainty to global trade.”
January imports decreased 3.5% to 414,731 teu compared to the previous year. After 14 months of consecutive declines due to tariffs on American goods, exports increased 2.2% to 148,206 TEU. Empty containers declined 12.4% to 243,207 teu. (mw)