Export Shipments Decline at Port of LA Amid Coronavirus Outbreak
Export shipments out of the Port of Los Angeles fell 5.7% in February compared with last year, and overall traffic through the port fell by nearly a quarter, with declines expected to continue in March, the port said in a…
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press release March 10. The coronavirus has been a major contributor to the decline. “We are more interconnected than ever with our global partners so it’s no surprise that Trans-Pacific maritime trade has been significantly impacted,” Port of Los Angeles Executive Director Gene Seroka said. “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 said. “We’re actively working with our supply chain partners to be prepared for a cargo surge once production levels ramp up.” Imports were down 22.5% in the month of February. The Lunar New Year holiday in Asia was also a factor in the decline, the release said.