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Port of Los Angeles Cargo Volumes Down 23% in February

The Port of Los Angeles is reporting a 22.9% decrease in cargo volumes for February compared to 2019, with expectations for continued softness in March.

Referencing widely reported trading partner disruptions, the Port’s Executive Director Gene Seroka noted “We are more interconnected than ever with our global partners so it’s no surprise that Trans-Pacific maritime trade has been significantly impacted.”

February imports decreased 22.5% compared to 2019 and exports decreased 5.7%. Empty containers declined 35%. For the first two months of 2020, total container volumes are down 13% from 2019.

“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.”

Connect Media knows that information from relevant sources is key to best practices. We encourage all our readers to stay informed on commercial real estate trends, and recently hosted a webinar on critical property operation considerations relating to Covid-19 environmental mitigation across the asset classes, with leaders from multifamily, office, industrial, retail, senior living and more providing updates relevant to all property professionals. Access Connect Media’s Covid-19 Property Best Practices Webinar Here.


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