Two “serious shocks” have taken their toll on cargo volumes passing through the Port of Los Angeles over the opening months of 2020.
The California port moved 449,568 TEUs (twenty-foot equivalent units) in March, a 30.9 per cent decrease compared to last year. It was the lowest amount of monthly cargo moving through the port since February 2009.
March 2020 imports decreased 25.9 per cent to 220,255 TEUs compared to the previous year, while exports decreased 23.8 per cent to 121,146 TEUs.
For the first quarter of 2020, volumes have decreased 18.5 per cent compared to the corresponding period of 2019.
“We’ve had two serious shocks to our supply chain system. First the trade war between the US and China and now the Covid-19 pandemic,” said Gene Seroka, executive director of the Port of Los Angeles.
“With US retailers and cargo owners scaling back orders, volumes are soft even though factories in China are beginning to produce more. Amidst this public health crisis, there will be uncertain months ahead in the global supply chain.”