Friday, November 8, 2019

LA Cargo Down

By Karen Robes Meeks

The Port of Los Angeles handled 770,189 TEUs last month, falling 19.1% below its 2018 October record-breaking figures, according to numbers released Thursday. Imports dropped 19.1% to 392,768 TEUs and exports fell 19.3% to 140,332 TEUs.

The drop was not unexpected. Last year’s October numbers were significant in part because shippers were rushing to import cargo before tariffs took effect.

“With 25% fewer ship calls, 12 consecutive months of declining exports and now decreasing imports, we’re beginning to feel the far-reaching effects of the U.S.-China trade war on American exporters and manufacturers,” said Port Executive Director Gene Seroka. “We expect soft volumes in the months ahead and with the holiday season upon us, less cargo means fewer jobs for American workers. We need a negotiated settlement and the tariffs lifted.”