CORONAVIRUS TAKES TOLL ON PORT OF L.A.
CARGO VOLUMES
February Volumes Drop 22.9% Compared to Previous Year; Declines Expected to Continue in March
SAN PEDRO, Calif. – March 10, 2020 – The Port of Los Angeles moved 544,037 Twenty-Foot Equivalent Units (TEUs) in February, a 22.9% decrease compared to last year.
“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,” said Port of Los 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 added. “We’re actively working with our supply chain partners to be prepared for a cargo surge once production levels ramp up.”
February imports decreased 22.5% to 270,025 TEUs compared to the previous year. Exports decreased 5.7% to 134,468 TEUs. Empty containers declined 35% to 139,544 TEUs. In total, February volumes, also adversely impacted by the Lunar New Year holiday celebrated in Asia, totaled 544,037 TEUs. For the first two months of 2020, total container volumes are 1,350,181 TEUs, down 13% compared to last year.
Current and historical data is available here.
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative, strategic and sustainable operations that benefit Southern California’s economy and quality of life. North America’s leading seaport by container volume and cargo value, the Port of Los Angeles facilitated $276 billion in trade during 2019. San Pedro Bay port complex operations and commerce facilitate one in nine jobs in the five-county Southern California region.
“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,” said Port of Los 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 added. “We’re actively working with our supply chain partners to be prepared for a cargo surge once production levels ramp up.”
February imports decreased 22.5% to 270,025 TEUs compared to the previous year. Exports decreased 5.7% to 134,468 TEUs. Empty containers declined 35% to 139,544 TEUs. In total, February volumes, also adversely impacted by the Lunar New Year holiday celebrated in Asia, totaled 544,037 TEUs. For the first two months of 2020, total container volumes are 1,350,181 TEUs, down 13% compared to last year.
Current and historical data is available here.
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative, strategic and sustainable operations that benefit Southern California’s economy and quality of life. North America’s leading seaport by container volume and cargo value, the Port of Los Angeles facilitated $276 billion in trade during 2019. San Pedro Bay port complex operations and commerce facilitate one in nine jobs in the five-county Southern California region.
Media Contacts: