PortandTerminal.com, June 10, 2020
Executive Director Gene Seroka announced the May 2020 container volumes in a news briefing today.
LOS ANGELES, CA – Cargo volume at the Port of Los Angeles fell by nearly third in May as trade continues to be impacted by the COVID-19 crisis and lingering trade war with China, dashing hopes of a rebound.
Executive Director Gene Seroka announced the May volumes in a news briefing today. In kicking off the briefing, Seroka addressed briefly condemnation over the murder of George Floyd at the hand of Minneapolis Police and the port’s support of the Black Lives Matter movement.
“Compared to last May’s historic volumes, the surge in canceled sailings due to COVID-19 and the trade war, along with shifts in liner services, all contributed to significantly softer volumes,” said Port of Los Angeles Executive Director Gene Seroka.
The Port of Los Angeles moved 581,665 Twenty-Foot Equivalent Units (TEUs) last month, a 29.8% decrease compared to last year’s record-setting May.
Seroka declined to issue a forecast for the peak holiday shipping season, citing uncertainty around the coronavirus pandemic and consumer demand. “Any notion of economic recovery in the shipping industry is too early to discuss,” he said.
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